Adani Solar has achieved a major milestone by becoming the only Indian company to feature in Wood Mackenzie’s Global Solar Module Manufacturer Ranking for the first half of 2025, underlining India’s rising prominence in the global solar manufacturing sector. This recognition places Adani Solar among the world’s leading solar photovoltaic (PV) module makers, highlighting the company’s progress in technology, production and global competitiveness amid a challenging market environment.
The ranking, published by global energy and natural resources consultancy Wood Mackenzie, evaluates the performance of solar module manufacturers on a range of criteria including shipment volumes, bankability, reliability, financial health and manufacturing track record. Out of 38 manufacturers assessed globally, Adani Solar earned a Grade A classification and was ranked eighth worldwide, a notable achievement for an Indian solar enterprise in a field long dominated by Chinese firms.
Global Recognition as Clean Energy Manufacturing Landscape Diversifies:
With scores of 91.7 and 91.6, respectively, JA Solar and Trina Solar, both based in China, shared first place in the most recent Wood Mackenzie list, showing their ongoing dominance in the production of solar modules. Adani Solar earned a spot in the Top 10 global list with these well-known companies with a score of 81 points, showing exceptional performance under the consultancy’s rigorous review.
The approach used by Wood Mackenzie delves deeply into a variety of performance and sustainability metrics, including as supply chain resilience, patent activity, third-party reliability testing, and corporate governance procedures. For investors, partners, and domestic stakeholders in India’s renewable energy ecosystem, receiving a Grade A rating means that Adani Solar satisfies some of the highest international requirements in solar manufacturing.
The global ranking also highlighted a shifting competitive landscape. While Chinese companies still fill many positions in the Top 10, manufacturers from India, South Korea, Singapore and the United States have begun to gain traction, driven in part by changing trade policies and rising interest in diversifying solar supply chains beyond traditional hubs.
According to Wood Mackenzie, in the first half of 2025, the top 10 producers supplied 224 gigawatts (GW) of solar modules, or around 75% of all shipments worldwide. Even the biggest companies in the globe encounter difficulties, as evidenced by the group’s announcement of a combined net loss of USD 2.2 billion for these leading producers, which was mostly due to sharp drops in solar component prices. However, by concentrating on premium and protected markets, non-Chinese businesses in the ranking, such as Adani Solar, managed to maintain profitability.
Adani Solar’s Growth and Strategic Footprint:
Adani Solar, which has exported more over 15,000 megawatts (MW) of solar modules to domestic and international markets, has reached a major milestone with Wood Mackenzie’s acknowledgment. 10,000 MW of this total have been installed in India, while 5,000 MW have been supplied to clients abroad, showing the company’s growing worldwide reach. About 70% of the modules shipped by Adani Solar are made using solar cells produced in-house in India, highlighting the company’s focus on vertical integration and strengthening its domestic manufacturing ecosystem. Its integrated value chain spans from raw materials like ingots and wafers to cells, modules and key ancillary components such as solar glass, aluminium frames and encapsulants.
The company’s Mundra facility in Gujarat stands at the centre of this manufacturing push, producing next-generation, high-efficiency solar modules designed to compete on quality and performance with global offerings. In addition to solar PV production, Adani Solar’s activities have driven job creation, generating over 8,000 direct jobs and significant indirect employment in supporting sectors.
Adani Solar has announced plans to expand its annual module manufacturing capacity to 10,000 MW per year, further reinforcing India’s capability in producing large-scale solar equipment. This strategic expansion aligns with broader national goals, as India has seen its total solar manufacturing capacity grow from less than 2.5 GW a decade ago to over 140 GW by 2025, making it one of the world’s most dynamic markets for renewable energy.
Implications for India’s Solar Ambitions and Energy Transition:
India’s inclusion of Adani Solar in Wood Mackenzie’s global top 10 ranking is not just a corporate milestone but a milestone for the nation’s clean energy ambitions. It underscores how Indian manufacturers are stepping up in a sector once dominated by global giants, supported by government policies aimed at boosting indigenous production, reducing import dependency and driving the clean energy transition.
The country’s renewable energy trajectory has been remarkable. India now ranks third globally in installed solar manufacturing capacity and is the third-largest solar power producer worldwide. It has already exceeded its Paris Agreement commitment, with non-fossil fuel sources accounting for more than half of total installed power capacity, achieved years ahead of target. The nation remains on track to reach 500 GW of renewable energy capacity by 2030, driven by solar deployment and manufacturing growth.
The diversified and competitive solar manufacturing landscape highlighted by Wood Mackenzie also signals broader global trends — as countries seek to balance supply chain security, trade policy responses and climate objectives. Adani Solar’s achievement in this context is a strong indicator that Indian firms can compete not only on volume but also on the quality, bankability and performance benchmarks that global markets demand.
As the renewable energy transition accelerates, India’s solar manufacturers, led by Adani Solar, are emerging as credible players on the world stage, contributing to technological innovation, job creation and a more resilient clean energy infrastructure.
