India’s solar energy sector is heating up in an effort to meet the company’s ambitious goal of deriving 50 percent of its energy from renewable sources by 2030.
Fueled by $3.2 billion in government incentives, the country is now on track to be the world’s second-largest solar manufacturer by 2026. And while there is still an uphill climb to reach its goal of 280 gigawatts of solar capacity by 2030, India’s solar sector seems equipped for the challenge, as many factories have started measuring their solar capacity in gigawatts instead of megawatts.
In the list below, we take a closer look at the solar companies pushing India to a bright solar future.
Top Solar Companies in India
- Tata Power Solar
- Adani Solar
- Vikram Solar
- Waaree Energies
- RenewSys
- Emmvee
- Azure Power
- Jakson
- Goldi Solar
- Loom Solar
20 Top Solar Companies in India
Founded in 2004, Servotech is a solar energy and electric vehicle charging company. The New Delhi company’s solar energy solutions include solar panels, solar batteries and solar inverters. In 2019, it launched ServPort, a portable solar rooftop and battery storage system that can be assembled by consumers. Servotech also offers engineering, procurement and construction services for residential and commercial projects.
Surat-based Goldi Solar has 2 gigawatts of module manufacturing capacity at its 22-acre campus in Navsari and another 500 megawatts of capacity at its Pipodara facility. Founded in 2011, the company also manufactures inverters and offers engineering, procurement and construction services. It plans to expand into solar cell manufacturing by fiscal year 2023-2024.
Vikram Solar is one of India’s largest solar panel manufacturers, reaching 3.5 gigawatts of production capacity as of 2022. The company, which was founded in 2005, also offers engineering, procurement and construction services, as well as operations and maintenance services. The Kolkata-based company has many firsts to its name, including the first floating solar plant in India.
RenewSys, a division of the ENPEE Group, is an integrated manufacturer of solar panels and components such as encapsulants, backsheets and photovoltaic cells. Founded in 2011, the Mumbai-based company has facilities in Hyderabad, Bangalore and Patalganga.
Mahindra Susten, the clean energy arm of the Mahindra Group, is an independent power producer with more than 1.5 gigawatts of renewable assets. It has also provided engineering, procurement and construction services on more than 60 projects. The Mumbai-based company was founded in 2010 and has more than 200 employees.
Microtek is a Delhi-based company with a portfolio of power products, including solar power solutions for retail and commercial users. In addition to solar panels, the Delhi-based company also offers power conditioning units, solar management units and grid tied inverters.
Sova Solar has been manufacturing solar panels since 2008. The Kolkata-based company has an annual production capacity of 850 megawatts, and it plans to expand its capacity to 1 gigawatt by fiscal year 2023-2024. The company’s goal is to reach 5 gigawatts of capacity by fiscal year 2025-2026.
ICOMM, which works across the telecom, defense and infrastructure sectors, incorporated a solar energy division in 1994. Its portfolio of solar products includes home lighting, street lights, garden lights, portable lanterns and solar water pumps for rural areas. ICOMM also manufactures solar water heating technologies such as flat plate solar geysers and glass tube solar geysers.
Waaree Energies says it is India’s largest manufacturer of solar panels, with 12 gigawatts of installed capacity. Founded in 1989, the Mumbai-based company also manufactures solar inverters, solar street lights, solar mobile chargers and solar bags. It also offers engineering, procurement and construction services.
New Delhi-based Azure Power made its mark on India’s solar sector in 2009, when it developed the country’s first utility-scale solar project. The company, which boasts more than 3 gigawatts of operational capacity and 4.3 gigawatts of contracted and awarded capacity, continues to specialize in solar solutions for utilities, as well as commercial and industrial customers. It became a public company when it was listed on the New York Stock Exchange in 2016.
Loom Solar was founded in 2018 and has grown quickly in the solar industry. Headquartered in Faridabad, Haryana, the company has 150 employees, five facilities and a manufacturing facility. The company manufactures solar panels, inverters and lithium batteries that can be used to store energy for off-grid or hybrid solar systems.
Founded in 1989, Tata Power Solar, a subsidiary of Tata Power, says it is India’s largest integrated solar company, manufacturing solar cells and modules, rooftop solar panels and solar water pumps. The company provides solar power to 13 state utilities in India, and it has shipped more than 3 gigawatts of solar modules worldwide. Its portfolio boasts India’s largest rooftop solar project, vertical solar farm and floating solar power project.
AmpIn Energy Transition, formerly known as Amp Energy India, was founded in 2016. It’s an independent power producer that works with commercial, industrial and utility customers to transition to renewable energy, most notably solar power. The company is headquartered in New Delhi and has regional offices in Mumbai, Bangalore and Kolkata.
Emmvee, which was founded in 1992, manufactures solar water heating systems and solar panels. It boasted a module manufacturing capacity of 3 gigawatts at the end of 2023, and it expects to expand its capacity to 5 gigawatts in 2024. The Bangalore-based company employs 650 workers in India and at its sales offices in Germany.
SWELECT Energy Systems, formerly known as Numeric Power Systems Limited, was founded in 1984. The company, which acquired HHV Solar in 2013, produces solar panels, solar inverters, solar water pumps and hydropanels. Its manufacturing facility in Coimbatore has a production capacity of 500 megawatts.
Jakson, an energy-focused conglomerate, operates a solar energy business that manufactures solar panels and solar inverters. Its solar panel manufacturing plant in Noida has 1.2 gigawatts of annual production capacity, and it plans to expand its capacity to 3 gigawatts by 2025. The company also offers engineering, procurement and construction services, as well as operations and maintenance services, for rooftop solar and utility-grade solar projects.
Founded in 1995, Premier Energies manufactures both solar cells and modules using a fully integrated production line with 3.4 gigawatts of capacity. The Hyderabad-based company plans to add an additional 1.6 gigawatts of manufacturing capacity in the near future. It also offers engineering, procurement and construction services to set up large solar power plants.
Adani Solar, a division of the Adani Group, says it is the largest vertically integrated manufacturer of solar cells and solar panels. Founded in 2015, the company produces a wide variety of solar modules at its Mundra, Gujarat manufacturing campus, which has 4 gigawatts of manufacturing capacity. The company is currently building an ecosystem with 10 gigawatts of photovoltaic manufacturing capacity.
Jupiter is a Kolkata-based solar cell manufacturer. Its facility in Baddi, Himachal Pradesh has a production capacity of 800 megawatts, including a 500 megawatt line for PERC cells and a 300 megawatt multi-crystalline facility. The company also offers engineering, procurement and construction services for rooftop installations, ground-mounted systems and other solar projects.
Photon Energy Systems has been in the solar industry since 1995. The Hyderabad-based company manufactures solar panels, as well as the flat plate collectors and evacuated tube collectors used in solar thermal systems. It also has an engineering, procurement and construction division that can install solar rooftop systems and solar power plants.
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