Adani Solar ranks 6th globally in Wood Mackenzie's 2026 Module Manufacturer list

Adani Solar has secured sixth place in Wood Mackenzie’s 2026 Global PV Module Manufacturer Rankings, the highest among Indian firms. The rating reflects strengths in manufacturing and supply chain resilience as India scales domestic solar capacity to over 170 GW by 2026, with 27 GW in solar cell manufacturing.

Adani Solar, the solar manufacturing arm of Adani New Industries Ltd (ANIL), ranked sixth in Wood Mackenzie's Global Solar Photovoltaic (PV) Module Manufacturer Rankings 2026, making it the highest-ranked Indian company in the annual assessment.

The company improved from eighth place in the previous ranking and is the only Indian manufacturer to feature in the global top 10, according to the report published by energy research and consultancy firm Wood Mackenzie. The 2026 study evaluated 48 solar module manufacturers on parameters, including capacity utilisation, technology maturity, financial performance, supply chain resilience and operational strength.

Wood Mackenzie assigned Adani Solar a Grade A classification, citing its performance across manufacturing, technology, financial health, supply chain resilience and operational metrics. The ranking comes as India seeks to expand domestic solar manufacturing capacity and reduce dependence on imports. India's solar module manufacturing capacity has grown from less than 2.5 gigawatts (GW) in 2014 to more than 170 GW in 2026, while domestic solar cell manufacturing capacity has reached 27 GW, according to industry data cited by the company.

Chinese firms occupy all the top six spots on the Wood Mackenzie list. LONGi Green Energy tops the list, followed by Jinko Solar, JA Solar and Trinasolar.

Adani Solar is in the advanced stages of expanding its integrated manufacturing facility at Mundra in Gujarat to 10 GW of annual capacity. The company currently operates 2 GW of ingot and wafer capacity and 4 GW each of solar cell and module manufacturing capacity. Unlike many manufacturers that operate in a single segment of the solar value chain, Adani Solar has integrated operations spanning ingots, wafers, solar cells and finished modules.

The company was also recognised as a BloombergNEF Tier-1 manufacturer in the second quarter of 2026 and has consistently been rated a top performer in independent solar module reliability assessments conducted by Kiwa PVEL. Wood Mackenzie said Chinese manufacturers continued to dominate the global rankings, while companies from India, South Korea and Singapore were emerging as contributors to a more geographically diversified solar manufacturing industry.

India has become one of the world's fastest-growing solar markets, surpassing the United States in annual solar capacity additions in 2025. The country has installed more than 155 GW of solar power capacity as it pursues its clean energy and climate targets. India's solar module manufacturing capacity has expanded from less than 2.5 gigawatts (GW) in 2014 to over 170 GW in 2026, supported by a domestic solar cell capacity of 27 GW. The number of companies manufacturing solar modules has risen from 21 in 2021 to around 100 today, underscoring the rapid expansion of the sector.

India has also surpassed the US in annual solar generation capacity additions, becoming the second-largest solar growth market in 2025. It has crossed 155 GW of installed solar capacity, helping achieve the country's 50 per cent non-fossil fuel capacity target and fulfil its Nationally Determined Contributions (NDCs) ahead of schedule.