Accelerating its push for creating domestic manufacturing capacities across the solar value chain, the government proposed mandating the use of India-made wafers under the Approved List of Models and Manufacturers (ALMM) starting June 1, 2028. The Ministry of New and Renewable Energy, in a draft amendment to the ALMM order, proposes creating an ALMM List-III for wafers, on the lines of solar modules and cells. Stakeholders are invited to submit their comments and suggestions by October 11, 2025.

A delay of over 18 months in commissioning a transmission system strengthening program created bottlenecks for evacuating 8.1 GW of power from a renewable energy zone in solar-rich Rajasthan. The Phase II (Parts E, G, and G1) transmission system strengthening project was scheduled to be completed in November 2023, but has remained uncommissioned, according to Grid-India’s ‘Operational Feedback on Transmission Constraints (April-June 2025)’ report. Several transmission project components, which were to be commissioned by November 2023 and September 2024, are yet to be completed.

Distributed and utility-scale renewable energy markets are reshaping product strategies and investment decisions in India, with technology choices and policy stability emerging as decisive factors. There has been a growing demand for microinverters from the commercial and industrial consumers, even for rooftop solar systems of 100 kW to 200 kW capacity, despite the higher costs, according to Bharat Singh TN, Director – Sales and Marketing at Ningbo Deye New Energy. He also noted that there is no shortage of inverters in India. “The perception is that distributors do not stock them when modules are not available.”

Mufin Green Finance, a listed non-banking financial company, completed the allotment of 5,000 non-convertible debentures (NCDs) worth ₹500 million (~$5.67 million) through a private placement. As per an intimation filed with the stock exchanges, each debenture was allotted a coupon rate of 11% per annum, payable monthly. The NCDs were allotted on September 11, 2025, with a tenure of 15 months. The maturity date for the instrument is December 11, 2026. Principal repayment is structured in two tranches: the first 50% repayment will be made on October 11, 2026, and the final 50% repayment will be made on December 11, 2026.

Independent power producer Serentica Renewables signed binding agreements to acquire Statkraft’s 445 MW operational solar project at Bikaner, along with 1 GW of solar projects under development across Rajasthan. Projects in the portfolio have been supplying power on a merchant basis and will be transitioned to serve Serentica’s commercial and industrial customers on a round-the-clock basis. The acquisition will grow Serentica’s operating portfolio to 1.5 GW, keeping the company on course to achieve its target of 17 GW by 2030. The transaction is subject to the fulfillment of conditions precedent and any necessary regulatory approvals.

The U.S. solar industry installed 7.5 GW of capacity in the second quarter (Q2) of 2025, a 24% year-over-year (YoY) and a 28% quarter-over-quarter (QoQ) decline, according to Wood Mackenzie and Solar Energy Industries Association‘s US Solar Market Insight report. The report stated that all segments, except commercial solar, saw capacity additions declining. The commercial solar segment witnessed a strong project pipeline that continued to come online under California’s former net metering regime. In Q2 2025, installations in the utility-scale segment stood at 5.7 GW, declining 28% YoY and 33% QoQ.