Gather all ingredients.

Heat 1 tablespoon olive oil in a skillet over medium heat; cook and stir onion in hot oil until slightly tender, about 5 minutes.

Add garlic, coriander, turmeric, garam masala, red pepper flakes, curry powder, cumin, and salt; cook and stir until fragrant, about 1 minute.

Mix spinach, tomatoes, water, and ginger into onion mixture; simmer for 20 minutes. Remove from heat and cool slightly, about 5 minutes.

Transfer spinach mixture to a blender and blend until smooth. Set aside.

Heat remaining 1 tablespoon olive oil in the same skillet over medium heat; cook and stir paneer in hot oil until lightly browned, about 5 minutes.

Stir in puréed spinach mixture and cook until heated through, 3 to 5 minutes.