Top 10 Solar Power Companies in India
- June 21, 2024
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Top 10 Solar Power Companies in India
Solar power is a renewable energy source, which means it will never run out unlike fossil fuels. India is one of the largest solar power generators in the world.
Let’s check out the top 10 solar power companies in India.
1. Tata Power Solar
Founded: 1989
Headquarters: Mumbai, Maharashtra
The first company in our list of top 10 solar power companies in India is none other than Tata Power Solar Systems Limited. Tata Group, the parent organization of Tata Power Solar, is famous for staying ahead of the curve in the major sectors in India, and the solar power sector is no exception.
Tata Power Solar, formerly known as Tata BP Solar, was founded in 1989. Tata Power Solar is a company which is driven by a singular vision i.e., to harness the power of the sun to enable solar everywhere.
There are three distinct segments in which the company operates: solar modules’ manufacturing, creation of innovative solar products and EPC services for solar power projects. In order to provide access to energy, especially in remote, off-grid areas of India, Tata Power Solar has been working tirelessly which makes it one of the most trusted solar power companies in the country.
In 2017, Tata Power Solar became the first company in India to ship over 1 GW solar modules around the world. The manufacturing unit of Tata Solar Power is in Bangalore and has a production capacity of 300 MW of cells and 400 MV of modules. Many leading corporations, institutions and MNCs have selected Tata Solar Power as their trusted partner in their clean and green energy journey.
2. Adani Green Energy
Founded: 2015
Headquarters: Ahmedabad, Gujarat
Indian Billionaire Gautam Adani’s Adani Green Energy Limited (AGEL) is one of India’s largest renewable energy companies, which plays a vital role in enabling the clean energy transition.
One of the largest solar photovoltaic plants in the world known as Kamuthi Solar Power Project is operated by Adani Green Energy Limited. Utility-scale grid-connected solar, wind, and hybrid renewable power plants are developed, owned, and run by Adani Green Energy. Across 12 states, this company has an operational renewable capacity of over 10 GW and a locked-in portfolio up to 21.9 GW, which together offset more than 52.3 million tons of CO2 emissions.
Adani Green Energy is dedicated to reaching its goal of 50 GW by 2030 in line with the decarbonization objectives of India. The company's main goal is to employ technology to lower the Levelized Cost of Energy (LCOE) and promote the broad usage of reasonably priced clean energy.
Adani Green Energy’s operational portfolio showcases its dedication to sustainable growth with certifications such as "zero waste-to-landfill," "single-use plastic free," and "water positive for plants of more than 200 MW capacity."
3. Vikram Solar Limited
Founded: 2006
Headquarters: Kolkata, West Bengal
Vikram Solar Limited was initially registered as “International Leather Clothiers Private Limited” under the Companies Act, 1956, pursuant to a certificate of incorporation dated 2nd December, 2005 issued by the Registrar of Companies (RoC).
The name of the company was changed from "International Leather Clothiers Private Limited" to "International Clothiers India Private Limited" because it was not dealing in leather goods and had instead chosen to deal in clothing items. As a result of this, the RoC issued a new certificate of incorporation on 10th May, 2006.
Further, the Vikram Group purchased "International Clothiers India Private Limited," and the company's business focus was changed from clothing items to solar power. As a result, the company's name was changed from "International Clothiers India Private Limited" to "Vikram Solar Private Limited," and a new certificate of incorporation was issued by the RoC on 3rd September, 2008, to better reflect its business activity.
After this, the solar power company changed its status from private limited company to public limited company due to which its name was changed to "Vikram Solar Limited" in accordance with a new certificate of incorporation that the RoC had granted on 22nd August, 2017.
Vikram Solar is one of India’s largest solar module manufacturers with an annual production capacity of 3.5 GW and by revenue, it is the second largest solar power company in India. The primary focus of the company is manufacturing solar PV modules and also carrying out engineering, procurement and construction operations and services and maintenance of solar power plants.
4. Waaree Energies Limited
Founded: 1989
Headquarters: Mumbai, Maharashtra
Waaree Energies Limited, was founded in 1989 with head office in Mumbai, Maharashtra. This solar power company focuses on solar PV module manufacturing and aims to provide sustainable energy solutions which are of good quality and cost-effective. Additionally, Waaree Energies aims to reduce carbon footprint. As of 30th June, 2023, Waaree Energies Limited had an aggregate installed capacity of 12 GW at its plants in Chikhli, Surat, Tumb, and Nandigram in Gujarat.
Waaree Energies Limited is a top player when it comes to the solar module export (for fiscal 2023). The total number of customers served by Waaree in India is 407 and 20 outside India as of June 30, 2023. Waaree Energies Limited’s clients include some of the major companies such as Bosch, Acme, Adani, Aditya Birla Group, Suzlon Energy, Piramal Pharma, BHEL and Ujaas.
In June 2024, the Chairman and Managing Director of Waaree Energies Limited won the Global Solar Leaders Award 2024 for his outstanding contributions he made to solar industrial progress around the world. This award was presented at the SNEC 17th International Photovoltaic Power Generation and Smart Energy Exhibition & Conference which was held in Shanghai, China, from 13th to 14th June, 2024. This shows how dedicated this solar power company’s Chairman is when it comes to the solar power industry.
5. Loom Solar
Founded: 2018
Headquarters: Faridabad, Haryana
Based out of Faridabad, Loom Solar is a manufacturer of solar panels and lithium batteries. Loom Solar has presence in 100 cities in India with over 150 employees, 10,000 resellers, 5 facilities and 1 manufacturing unit. In the 11th Annual 2019 Golden Bridge Business and Innovation Awards at the United States of America (USA), Loom Solar won the prestigious gold and silver award.
Loom solar focuses on offering energy solutions which are clean and sustainable to residential, industrial and commercial clients. The solar power company also offers installation services with the aim of making solar power accessible and affordable for a variety of audiences.
Loom Solar has made over 50,000 homes in India solar powered, including homes in remote and hilly areas. The company emphasizes quality and innovation to cater to the growing renewable energy sources’ demand in India.
6. Premier Energies
Founded: 1995
Headquarters: Hyderabad, Telangana
Premier Energies was established in 1995 and is headquartered in the Hyderabad city of Telangana. When it comes to manufacturing of solar cells and solar modules in India, Premier Energies is the second largest manufacturer in India. This solar power company is also the second-largest maker of integrated solar cells.
Premier Energies has proved to be a leader in the solar power industry, having an annual installed capacity of 2 GW for solar cells and 3.36 GW for solar modules as of 31st March, 2023. This solar power company is backed by GEF Capital, a private equity investor based out of Washington DC, USA. When it comes to making use of innovative technology for crafting photovoltaic products and solutions, Premier Energies has been setting the standard.
The advanced manufacturing units of the company are spread across three locations in Telangana, which total an aggregate land area of approximately 44.91 acres. In addition, the company’s topcon cell line and module line covering a total land area of 75 acres are under development at present. These new facilities are expected to have cell and module facilities.
7. Sova Solar
Founded: 2008
Headquarters: New Town, West Bengal
Sova Solar was established in 2008 and is headquartered in New Town, West Bengal. Although it is a relatively new solar power company as compared to most other companies mentioned in this ‘top 10 solar power companies in India’ list, Sova Solar Limited has developed into one of India’s leading solar businesses because of its commitment to providing clean energy.
Sova Solar is a well-reputed company in the solar industry and provides both on-grid and off-grid solar systems. The solar power company primarily focuses on Silicon Crystalline-based products which are developed using advanced technology to address the global demand for renewable green energy sources.
8. Fenice Energy
Founded: 1959
Headquarters: Chennai, Tamil Nadu
Fenice Energy, formerly known as SunEdison, was founded in 1959. Headquartered in Chennai, this solar power company is focused on offering solar solutions at heart while building a broader portfolio of distributed green energy solutions and products.
The term “Fenice” comes from Phoenix which is a mythological bird associated with sun and rebirth. This symbolizes this solar power company’s collective quest to begin a new age of renewable energy by harnessing the full potential of the sun.
Till date, the company has built 30,000+ solar projects across 100+ cities in India. Fenice Energy is one of the leading solar power companies in India when it comes to design, execution, maintenance and installation. It has expertise in end-to-end solar solutions.
The solar projects of Fenice Energy include MW utility-scale, solar photovoltaic power plant in Gujarat, solar plus storage micro-grid project in Madhya Pradesh, canal top solar power project in the Narmada, 1st rooftop PPA project with Standard Chartered Bank in Tamil Nadu, 24 MW largest project under NSM in Rajasthan, solar open access project in Tamil Nadu, 19 MW airport project in Malaysia and grid connected solar water pump in Karnataka.
Fenice Energy has been serving the solar power sector for over 25 years and has helped clients across numerous sectors in India by optimizing their production efficiency by providing them with a clean energy source for generating electricity. Wipro, NTPC, BHEL, Indian Railways, Amway, REIL and Standard Chartered are some of Fenice Energy’s clients.
9. Goldi Solar
Founded: 2011
Headquarters: Surat, Gujarat
Goldi Solar is a solar power company which is headquartered in Surat, Gujarat. It has a strong global presence in more than 20 countries and has a PV module manufacturing capacity of 3GW.
An extensive range of AC and DC pumps are offered by Goldi Solar for diverse applications like rural and urban water supply, agricultural irrigation, industrial use and community projects. The solar power company offers advanced structural designs which facilitate the installation of power plants in tough and challenging terrains and regions.
Goldi Solar is committed to delivering professionally executed installations to ensure optimal performance. The company has worked on 100000+ rooftop projects and has a track record of 2000+ successful solar projects, which include commercial as well as utility portfolios.
Goldi Solar has made significant progress in the EPC arena by delivering value-centric projects and ensuring their completion in a timely manner. Goldi Solar demonstrates commitment to the green energy sector and covers everything from design to engineering to project execution of solar projects. This solar power company showcases strong dedication to quality, reliability and performance.
10. Azure Power
Founded: 2008
Headquarters: New Delhi, India
Last but not the least in our ‘top 10 solar power companies in India’ list is Azure Power. This solar power company is one of the leading solar power producers in India and has a proven track record and portfolio of 4.3 GW of high-quality green energy assets.
Azure Power developed the first utility scale solar project in India in 2009 and has the proud privilege of being the first Indian energy company to list the very first solar green bond from India on the Singapore Stock Exchange (SGX). The company has a mission to create value for all its stakeholders through quality renewable energy assets to displace 230 million tonnes of global emissions by the year 2030.
This company is backed by several global marquee institutional and public investors such as Caisse de dépôt et placement du Québec (CDPQ) and OMERS Infrastructure. The company builds and operates large grid-scale solar, wind and hybrid projects across India to supply renewable energy to government utilities, both at center and state. Azure Power supplies clean energy under long term contracts for up to 25 years at fixed rates. The company envisions to be the number one provider of sustainable energy solutions in order to achieve a carbon neutral world.
Disclaimer: This blog is for educational purposes only. The solar power companies listed in the blog post “top 10 solar power companies in India” are not ranked according to any official rankings or data. Registrationwala shall not be responsible for any investment decisions taken based on the information provided in this blog post.
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