Developers / IPPs

Developers / IPPs

Independent power producers — operational, under-construction and pipeline capacity, the national PPA funnel, portfolio mix, and PPA signings.

As of 31 Mar 2026

Portfolio totals

Across tracked large & listed IPPs.

Operational capacity

75.6GW
11 developers
Medium

Under-construction + pipeline

110.8GW
near-term build-out
Medium

FY30 target (aggregate)

186.2GW
sum of stated targets
Modelled

Developers tracked

11
listed & large IPPs
High

Largest by operational

Adani Green
17.2 GW operational
Medium

National balance pipeline

68GW
LOA awaiting PPA (solar + wind)
Medium

Capacity funnel

Operational → under-construction → pipeline, by developer (GW).

Per-developer capacity funnel

Stacked GW · sorted by total portfolio

Source VQ Research / investor disclosures (maintained)· As of 31 Mar 2026Medium

National PPA funnel

LOA → PPA → Executed → Balance · GW by tech

Source VQ Research (national)· As of 31 Mar 2026Medium

Aggregate portfolio mix

Operational GW by tech · + 2 GWh BESS (excl.)

Source VQ Research / investor disclosures (maintained)· As of 31 Mar 2026Medium

Developer roster

Capacities in GW · sortable.

Developer roster

Operational / UC / pipeline / FY30 target (GW)

DeveloperOperationalUnder constr.PipelineTargetPrimaryPPA-signedConf.
Adani Green
17.2
12.020.850 FY30Solar1.0 GWMedium
ReNew
11.5
3.03.218 FY30Solar0.4 GWMedium
NTPC Green
9.0
7.08.024 FY30Solar1.0 GWMedium
Greenko
7.5
2.03.012 FY30SolarModelled
Avaada
7.2
6.04.518 FY30Solar0.7 GWModelled
Tata Power RE
6.1
4.05.916 FY30Solar0.8 GWMedium
JSW Neo
5.7
5.05.817 FY30Solar0.3 GWMedium
Sembcorp Green
3.5
1.52.07 FY30Solar0.5 GWModelled
Juniper Green
3.0
2.02.07 FY30Solar0.5 GWModelled
ACME Solar
2.9
3.53.610 FY30Solar0.5 GWMedium
Torrent Power
2.0
3.03.08 FY30SolarModelled
Source VQ Research / investor disclosures (maintained)· As of 31 Mar 2026Medium

PPA / PSA tracker

Recent signings — filter by type, sort any column.

PPA / PSA signings

Newest first · per-row confidence

DateDeveloperAgencyTypeMW₹/unitConf.
10 Feb 26JSW NeoSECIFDRE3004.98Medium
15 Jan 26JSW EnergyNTPCSolar700Medium
5 Dec 25Adani GreenSECISolar + BESS1,0003.12Medium
20 Nov 25ReNewSECIHybrid4003.46Medium
18 Oct 25NTPC GreenSECISolar1,0002.55Modelled
12 Sep 25Tata Power REGUVNLSolar8002.70Modelled
22 Aug 25ACME SolarSECIFDRE5004.64Modelled
15 Jul 25AvaadaSECISolar7002.42Modelled
10 Jun 25Sembcorp GreenSECIHybrid5003.40Modelled
8 May 25Juniper GreenMSEDCLSolar5002.68Modelled
Source SECI / state DISCOMs (maintained)· As of 31 Mar 2026