AM Green Energy, Serentica Renewables, Amplus Solar, Fourth Partner Energy, and Brookfield Renewable Partners were the top solar open access developers in the first half (1H) of the calendar year (CY) 2024,  according to Mercom’s recently released India Solar Market Leaderboard 1H 2024.

In 1H 2024, India added 3.6 GW of solar open access capacity, a 153% increase from the 1.4 GW installed in 1H 2023, according to Mercom’s Q2 2024 India Solar Open Access Market Report. The capacity added in the first half of this year surpassed the total annual installations of any previous year.

India’s cumulative installed solar open access capacity was 16.3 GW as of June 2024. In Q2 2024, about 1.8 GW of solar open access capacity was added in the country, a marginal 2.5% drop quarter-over-quarter but up nearly 152% year over year.

In the first half of 2024, AM Green Energy led the open access solar developer rankings, followed by Serentica Renewables and Amplus Solar in second and third places, respectively. Fourth Partner Energy and Brookfield Renewable Partners completed the top five.

The top five open access project installers accounted for 41.8% of the market share.

AM Green Energy entered the list at the top position in the first half of the year by adding 381 MW of solar projects as a part of the 975 MW wind-solar hybrid power project with round-the-clock power supply owned and funded by ArcelorMittal and design, constructed, and operated by Greenko in Andhra Pradesh.

Serentica Renewables made it to second place in the first half of the year. The company’s installations were driven by the commissioning of a 200 MW solar project in Karnataka. In January 2024, the company secured ₹35 billion (~$425 million) in debt funding from a consortium of three international banks and three Indian lenders for its round-the-clock renewable energy project.

Amplus Solar entered the top 10 list in 1H 2024 in third position. The company’s installations were primarily from the commissioning of a 300 MW solar open access project in Rajasthan.

Mercom’s India Solar Market Leaderboard report covers market share and ranking across India’s solar supply chain and provides the most accurate and comprehensive coverage of India’s solar industry leaders. For a detailed and thorough report, click here.