Summary
India’s C&I renewable segment is among the fastest-growing parts of the country’s energy transition. Cumulative C&I procurement capacity hit 18.7 GW by end-FY24 (up 90.4% YoY), with open access solar crossing 30 GW by Dec 2025 a record 7.8 GW added that year.
C&I RE capacity is projected to reach 40 GW by FY26 and 57 GW by FY28, ~70% via open access. India’s overall renewable installed base (2025) is set to grow from ~241 GW to 486 GW by 2030 at ~15%CAGR, with C&I growing faster still, at 18.8% CAGR.
Solar is not being adopted anymore by corporates simply because it’s an environmental choice – today it’s a pure economic one, thanks to savings in tariffs, energy security, and decarbonization needs. These are the five solar companies shaping C&I solar in India in 2026.
Top 5 Solar Energy Developers in India – 2026
As of 2026, the landscape for Commercial and Industrial (C&I) clean energy procurement is firmly led by a powerhouse tier of renewable energy developers: Fourth Partner Energy, Cleanmax, Gentari, Avaada, and Ampin. These top five developers have solidified their positions at the forefront of the market by offering highly tailored, corporate-centric solutions: ranging from on-site rooftop solar and large-scale open access parks to advanced wind-solar hybrid installations. Backed by substantial global investments and robust execution capabilities, they remain the preferred sustainability partners for corporations looking to slash operational electricity costs and accelerate their net-zero decarbonization targets.
1. Fourth Partner Energy (FPEL)
Fourth Partner Energy is the only sizable renewables player in India that exclusively caters to C&I clients and in solar, it is the ultimate benchmark. According to Mercom India Solar Market Leaderboard 2024, FPEL was one of the top five solar open access developers in India during CY 2023 and the firm has further scaled up its portfolio since then.
By 2026, FPEL has deployed 400 MW of rooftop solar in 24 states – one of the largest rooftop portfolios in India and has commissioned more than 1.2 GW through open access channel. The total capacity deployed by FPEL is 1.6 GW, with 3.5 GW under development and a target of 9 GW by FY31. FPEL recently completed an ₹780 crore refinancing with NIIF Infrastructure Finance Limited in late 2025, which covers most of its rooftop solar portfolio, and has secured US$275 million equity investment from IFC, ADB, and DEG.
Some of the biggest clients of FPEL’s C&I Solar arm include companies such as Meta, Walmart, Unilever, Hyundai, Tata Motors, TCS, Wipro, UltraTech Cement, Skoda, and D-Mart, which are among the leading sustainability-oriented companies in the world.
Its largest wind and solar power project with ISTS in Karnataka is a 575 MW project which is one of the largest C&I hybrids in India, proving FPEL’s capability of developing large-scale assets only for industrial players.
The company also has around 800 MW of wind and solar power hybrid plants under development along with more than 300 MWh of BESS.
Why FPEL stands out:
- Top 5 solar open access developer in India (Mercom India Solar Market Leaderboard 2024)
- 370 MW rooftop solar across 24 states; 1.2 GW open access commissioned
- 575 MW wind-solar hybrid ISTS project in Karnataka (landmark C&I project)
- USD 275 million equity raise from IFC, ADB, DEG
- 300+ marquee C&I clients across manufacturing, retail, IT, and logistics
2. CleanMax
CleanMax is now among the biggest developers focusing on the C&I segment based on its contracted portfolio. Its contracted capacity rose from 1.75 GW in March 2024 to 4.4 GW in March 2025 and 5.7 GW by March 2026 – an incredible growth path that has no comparison in the C&I space. Commissioned capacity amounts to about 3.1 GW.
It made its stock market debut in February 2026 at a price band of ₹1,000-1,053 per share with Temasek and Bain Capital leading a ₹1,500 crore fundraising before IPO. In May 2026, the company raised additional $575 million to develop approximately 1 GW of solar and hybrid power projects in Rajasthan and Karnataka to serve corporate and data centers customers. 74% of the newly contracted capacity in fiscal year 2025-26 came from the repeat customers.
CleanMax’s client base consists of Apple, Google, Amazon, BASF, Iron Mountain, and Princeton Digital Group. Data centers and AI infrastructure clients now represent 42% of its contracted portfolio.
Why CleanMax stands out:
- 5.7 GW contracted C&I solar and hybrid portfolio as of March 2026
- 3.1 GW commissioned across Rajasthan, Karnataka, and other key states
- $575 million fund raise for 1 GW solar and wind projects (May 2026)
3. Gentari (formerly Amplus Solar)
Amplus Solar, which has been renamed Gentari is one of the most well-known C&I focused solar companies in India. With more than 2.1+ GWp of deployed/under construction capacity in 24 states and more than 325 corporate customers spread over 650+ projects, Gentari finds itself in the list of the top three pure-play C&I solar companies in India.
What makes Gentari unique is its capability to develop solar rooftops and open access deals as well as group captive solar for mid-sized to large industrials. The balance sheet strength of PETRONAS provides Gentari with the advantage of developing long-term PPAs at competitive tariffs.
record gives corporate buyers confidence in multi-location renewable procurement.
Why Gentari stands out in:
- 2.1+ GWp portfolio across 24 states; 325+ clients
- Rooftop + open access + group captive expertise
- PETRONAS backing for competitive C&I PPA pricing
4. AmpIn Energy
AmpIn Energy has a portfolio exceeding 4 GWp across 21 states, serving both C&I and utility customers. In 2025, AmpIn closed financial terms on a 200 MWp solar-wind hybrid project in Rajasthan, secured a EUR 25 million investment from OeEB (Austria’s Development Bank), and completed a joint venture with Sumitomo Corporation of Japan backed by USD 710 million to co-develop 1 GW of renewable projects.
AmpIn’s strength is its ability to structure large-scale solar procurement for industrial buyers, including multi-state group captive frameworks. Its diversified capital stack with backing from development finance institutions and strategic Japanese capital positions it well for executing the next wave of C&I solar growth.
Why AmpIn stands out:
- 4 GWp portfolio across 21 states
- 200 MWp solar-wind hybrid financial closure in Rajasthan (2025)
- USD 710 million Sumitomo JV for co-developing 1 GW of RE
5. Avaada
Avaada is one of India’s most well-known solar company, with 7.2 GWp of operational capacity and a total portfolio of 17.7 GWp as of May 2026 that includes 10.5 GWp under construction. The company serves C&I clients through open access power plants in Karnataka, Rajasthan, Gujarat, and Tamil Nadu, and has delivered one of the world’s largest single-site solar plants: a 1.25 GWp project in Bikaner, Rajasthan.
Avaada’s in-house PV module manufacturing capability, India’s largest BESS project, and backing from Brookfield, ADB, and PTT Group make it a formidable C&I solar counterparty. Its Gujarat MoU for 5 GW solar + 1 GW wind + 5 GWh BESS underlines its ambitions for integrated, large-scale clean energy supply.
Why Avaada stands out:
- 7.2 GWp operational capacity; 17.7 GWp total portfolio
- In-house PV module manufacturing and BESS capabilities
- Open access solar for C&I clients across key RE states
The C&I Solar Opportunity in 2026 and Beyond
The Indian commercial & industrial (C&I) solar market is at an inflection point. The Indian solar open access market has reached 21.5 GW in March 2025, and CRISIL Research expects the total capacity of renewables to grow to 57 GW by fiscal year 2028. The states of Karnataka, Maharashtra, Rajasthan, Gujarat, and Tamil Nadu contributed more than 85% of the additions in the solar open access market in 2025.