JMK Research & Analytics Private Limited, an India-based renewable energy research and consulting firm, has released the Q4 2025 (Oct–Dec) India RE update. According to the report, more than 14.2 GW of inverter shipments were recorded from 15 suppliers delivering central and string inverters in India. Sungrow has led inverter shipments exceeding 5.25 GW during the quarter, driven primarily by central inverter deployments across utility-scale renewable installations. The report also states that approximately 14 GW of PV modules were shipped by 23 suppliers operating in the Indian market. These PV module shipments were concentrated among leading manufacturers, where the top five suppliers accounted for about 52% of total shipments. Waaree has held the largest module shipment share at around 21% during Q4 2025 in India. Developer data in the update shows Adani holding 40.4 GW cumulative installations and pipeline capacity across utility-scale solar, wind and hybrid segments, followed by ReNew with 22.2 GW and NTPC with 19.6 GW.