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Tata Power, Jakson, Ashoka Buildcon lead solar EPC market in 1H 2024

2024-11-19

Tata Power Solar, Jakson Green, and Ashoka Buildcon have emerged as the top utility-scale solar engineering, procurement, and construction (EPC) providers in India during the first half (1H) of 2024, according to Mercom India’s Solar Market Leaderboard for 1H 2024. Gensol Engineering and InSolare Energy also secured spots in the top five.

Tata Power Solar led the market with a 32.7% share, followed closely by Jakson Green at 32.1%, while Ashoka Buildcon claimed the third spot with 6.5%. Gensol Engineering and InSolare Energy accounted for 6.2% and 5.1% of the market, respectively. Together, the top five companies held a dominant 82.6% share of the market.

Tata Power Solar’s cumulative installed capacity in EPC mode reached 6.4 GW as of June 2024. Notably, the company commissioned India’s largest solar and Battery Energy Storage Systems (BESS) project during this period—a 100 MW solar power plant with a 40 MW/120 MWh utility-scale BESS system in Rajnandgaon, Chhattisgarh.

Jakson Green, with a cumulative installed capacity of 2.8 GW, delivered a 40 MW solar project in Ayodhya, Uttar Pradesh, awarded by NTPC Green Energy.

Ashoka Buildcon made its mark in the solar EPC sector by commissioning its first 150 MW solar project, part of NTPC’s 1,070 MW EPC auction from December 2020. This achievement propelled the company to third place in the rankings for 1H 2024.

(Mercom)