Adani Solar secures spot in Wood-Mackenzie's rankings: Why it matters
What's the story
Adani Solar, the solar photovoltaic manufacturing division of Adani New Industries Limited (ANIL), has made a major mark on the global clean energy stage. The company is the only Indian firm to make it to Wood Mackenzie's Global Solar Module Manufacturer Ranking for H1 2025. The report evaluates solar panel manufacturers based on their shipments, bankability, and performance.
Achievement
Adani Solar secures Grade A rating
Adani Solar has been awarded a Grade A classification by Wood Mackenzie, an independent energy and natural resources consultancy. The company was ranked eighth in the Global Solar Module Manufacturer Ranking. This rating is a testament to Adani Solar's strong performance across various parameters like technology capability, supply chain resilience, vertical integration, research and development (R&D), environmental social governance (ESG) practices, and corporate responsibility.
Market analysis
Global manufacturers' ranking and performance
The Wood Mackenzie report, which assessed 38 makers of crystalline silicon modules, was topped by JA Solar and Trinasolar with scores of 91.7 and 91.6, respectively. Adani Solar scored an impressive 81 points in this global assessment. The top 10 manufacturers collectively reported a net loss of $2.2 billion in H1 2025 due to steep price declines affecting even the biggest players in the industry.
Resilience
Non-Chinese players maintain profitability
Despite the challenges, all non-Chinese players in the top 10 list remained profitable by focusing on the premium and protected markets. These manufacturers maintained an average utilization rate of 70% in H1 2025, compared to a global average of just 43% for other manufacturers. Notably, Adani Solar and DMEGC Solar achieved a remarkable 100% utilization rate during this period.