SolSetu — Market Insights

Top 10 Solar EPC Companies in India 2025 – Market Insights & Rankings

Published: 24 October 2025 · By Solsetu Publisher

India’s solar EPC market in 2025 is dominated by a mix of large integrated groups (with manufacturing and developer arms), long-standing engineering contractors, and specialised EPC players that have been winning large utility-scale orders and rooftop portfolios. Below we rank the Top 10 Solar EPC companies to watch in 2025 — based on recent order wins, installed EPC capacity, and market visibility. Each entry includes what they’re known for and what buyers should watch when procuring.

Methodology (brief): This ranking synthesises recent industry reports, company order announcements and independent EPC rankings (PV-Tech / Wiki-Solar), with the five most load-bearing sources cited after key sections for verification. Rankings are aimed at procurement guidance rather than subjective “best” labels.

Quick market signals (2025)

Global and Indian trackers show Chinese, US and Indian EPC firms continuing to lead by volume; Indian contractors such as Sterling & Wilson and Tata Power Solar remain very active in large utility bids and domestic rooftop segments. Recent large EPC order announcements in India underscore strong mid-to-large project pipelines across states. :contentReference[oaicite:0]{index=0}

Top 10 Solar EPC Companies — 2025 (ranked)

1. Sterling & Wilson Renewable Energy — One of India’s largest pure-play EPC contractors with major recent order wins across Rajasthan, Uttar Pradesh and international markets; strong balance of utility and industrial EPC capability. :contentReference[oaicite:1]{index=1}
2. Tata Power Solar — Well-known for high-quality end-to-end EPC for utility, rooftop and floating projects; strong brand and longstanding project execution track record. :contentReference[oaicite:2]{index=2}
3. Adani (Adani Solar / Adani Green groups) — Large-scale developer-turned-integrator with growing EPC capability and significant module manufacturing capacity supporting captive and third-party EPC work. :contentReference[oaicite:3]{index=3}
4. Waaree Energies — Major domestic manufacturer with an expanding EPC and project-services arm; cited for industrial EPC and mounting global expansion plans. Recent company reporting highlights strong manufacturing and EPC orderbooks. :contentReference[oaicite:4]{index=4}
5. Vikram Solar — A long-standing integrated player with manufacturing + EPC service offerings and notable project experience across India and overseas. :contentReference[oaicite:5]{index=5}
6. Jakson Group — EPC and project developer known for utility and industrial projects, hybrid solutions and strong EPC delivery in northern India. :contentReference[oaicite:6]{index=6}
7. Mahindra Susten — Mahindra Group’s EPC arm focused on utility and commercial rooftops with strong O&M and EPC track record. :contentReference[oaicite:7]{index=7}
8. Larsen & Toubro (L&T) — Power / Renewable EPC — Large infrastructure EPC player with growing renewable and solar EPC capability, particularly for large grid-connected projects. :contentReference[oaicite:8]{index=8}
9. ReNew / ReNew Power (EPC & developer services) — Major renewable energy developer with in-house execution capability and growing EPC project activity through subsidiary arms. :contentReference[oaicite:9]{index=9}
10. Azure Power / Servotech / Other specialised EPCs — This slot captures other well-regarded specialised EPCs and fast-growing regional players (Azure Power projects, Servotech, smaller but fast-moving EPC firms). Localised strength and quality vary by state — procurement teams should validate orderbooks and references. :contentReference[oaicite:10]{index=10}

What buyers should check (procurement checklist)

• Order book & execution pipeline: Confirm recent order wins and unexecuted order book to understand delivery timelines. :contentReference[oaicite:11]{index=11}
• Local presence & O&M: Check for local spares, service hubs and O&M teams in the state of installation.
• ALMM / DCR & procurement compliance: Ensure modules/inverters meet ALMM (if required) and that the EPC can comply with government procurement rules.
• Reference projects & performance data: Request meter-level yield reports or performance test data for prior similar-scale projects.
• Finance & bankability: For large projects, prefer EPCs with bankable PPA experience and clear liquidated damages clauses.