Adani Solar Shines Globally: Only Indian Firm in Wood Mackenzie’s Top 10 Solar Module Manufacturers

Adani Solar, the solar manufacturing arm of Adani New Industries Limited (ANIL), has emerged as the only Indian company to make it to Wood Mackenzie’s Global Solar Module Manufacturer Ranking for H1 2025. The firm received a Grade A classification and secured the 8th position globally, highlighting India’s growing prominence in the renewable energy sector.

The Wood Mackenzie ranking evaluates 38 crystalline silicon module manufacturers on 10 criteria, including financial health, patent activity, manufacturing track record, and third-party reliability testing. Adani Solar scored 81 points, while leaders JA Solar and TrinaSolar topped the list with 91.7 and 91.6 points, respectively. The Grade A rating underscores the company’s high performance, transparency, and reliability.

Adani Solar’s success reflects its strong technology capability, vertical integration, resilient supply chain, R&D focus, and ESG compliance. While Chinese companies continue to dominate the global top 10, the report highlights increasing competition from India, South Korea, Singapore, and the U.S., signaling a diversifying solar manufacturing landscape.

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The company has shipped over 15,000 MW of solar modules globally, including 10,000 MW in India and 5,000 MW abroad, with around 70% produced using in-house Indian solar cells. The Mundra facility in Gujarat supports end-to-end module production, from ingots and wafers to cells, modules, and key components, positioning Adani Solar as the fastest-growing solar manufacturer in India.

Despite steep price declines affecting the solar industry—leading the top 10 manufacturers to report a combined USD 2.2 billion loss—Adani Solar maintained 100% utilization of its manufacturing capacity. It plans to expand capacity to 10,000 MW annually, reinforcing India’s ambitions to scale solar power generation and meet global energy transition goals.

India’s solar capacity has grown from less than 2.5 GW in 2014 to over 140 GW in 2025, making it the world’s third-largest solar power producer. Adani Solar’s global recognition coincides with India exceeding its Paris Agreement commitment, with non-fossil sources accounting for 51.5% of installed power capacity, setting the stage to achieve 500 GW by 2030.

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