This report provides a quarterly update on key trends and developments in the corporate renewable market including capacity addition, key players, policy issuances, financing, equipment prices and other market trends.
Figure: Total corporate renewable capacity at end-September 2024 (MW)

Source: CRISIL-BRIDGE TO INDIA research
India’s corporate renewable capacity grew 5% on-quarter, or by 2,011 MW, in the third quarter of 2024 to 41,727 MW. The addition, which comprised 36% of the total renewable capacity addition in India during the quarter, included 1,322 MW of solar open access (OA) capacity (up 9% QOQ) and 689 MW of rooftop solar capacity (up 9% QOQ). No wind projects were commissioned in the quarter.
Key developments from the quarter:
- Prices have bottomed out across solar value chain and is expect to remain low for next two quarters
- PPA tariffs across OA and rooftop solar segments remain stable
- Budget FY2025 maintains a neutral stance on renewable energy with continued allocation on existing initiatives
- Deviation penalties for solar and wind projects have been made stricter
- Compliance procedures for Indian Carbon Market issued, However, modalities of PAT and REC integration unclear.