The Ministry of New and Renewable Energy (MNRE) issued the first Approved List of Models and Manufacturers (ALMM) List-II for solar cells, enlisting nine domestic manufacturers with a cumulative annual production capacity of 13,067 MW. The ALMM List-II will come into effect from July 1, 2026. The notified list includes Mundra Solar Energy (Adani) with an enlisted capacity of 1,939 MW/year for its bifacial Mono c-Si PERC cells. Premier Energies International has been enlisted with a capacity of 1,174 MW/year for its bifacial mono c-Si PERC cells. Emmvee Energy has been included in ALMM List-II for its bifacial N-type TOPCon cells of 1,553 MW/year capacity. The list also includes ReNew Photovoltaics’ bifacial Mono c-Si PERC cells with a capacity of 1,766 MW/year, Jupiter International (units 1 and 2) with capacities of 339 MW/year and 440 MW/year, respectively. FS India Solar Ventures has the highest enlisted capacity of 3,212 MW/year.

The MNRE renamed the Revised List of Models and Manufacturers (RLMM) of Wind Turbines as the Approved List of Models and Manufacturers (Wind). The Ministry has also mandated the use of major wind turbine components such as blades, tower, gearbox, generator, and special bearings (main, pitch, and yaw bearing) from the Approved List of Models and Manufacturers (Wind Turbine Components) in the manufacturing of listed wind turbines. The ALMM (Wind Turbine Components) list will be issued by MNRE separately. MNRE has said that the wind turbine research and development center, data center, and/or servers should be located within India to enhance the cybersecurity ecosystem.

Renewable energy in India is increasingly being viewed as a mainstream segment by lenders who are eager to finance various clean energy projects. Capital is no longer a constraint for well-governed companies with a good track record. More and more players are entering the clean energy financing market, both on the debt side and equity side. Several renewable energy companies have recently opted to raise money from the capital markets via initial public offerings, which can be a double-edged sword in terms of opportunities and risks. Panelists at a discussion titled “Raising Capital for Renewable Energy Expansion,” held on July 25, 2025, at the Mercom India Renewables Summit in New Delhi, shared interesting perspectives on the approach of lending institutions towards clean energy financing in India at a time when global financing activity has been tepid.

Solar manufacturers can reduce costs and minimize quality defects in cells and modules, and balance of system components by using AI and automation. A panel discussion titled ‘Technology Innovations Driving Efficiency, Profitability, and Competitiveness in Renewables,’ held on July 24, 2025, at the Mercom India Renewables Summit 2025, shed light on the technological developments in solar manufacturing including the use of AI.