Company lists
The Ahmedabad edition · 2026

Solar energycompanies in Ahmedabad

Solar panels, EPC & project developers, power producers, pumps & lighting, operations & maintenance and more: the companies building solar energy in Ahmedabad, Gujarat, with their founders, funding, team size and business models.

107 company profiles67 with reported revenue8 with recorded fundingOctober 2026 edition
Ahmedabad · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent solar energy business events in India

Funding, M&A, contract wins and launches involving 2,531 solar energy companies in India, last 24 months: 525 Contracts · 105 M&A deals · 75 funding rounds · 3 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

ContractTechnology

Sharika enterprises · client: Uttarakhand Power Corporation (UPCL)

Sharika Enterprises, a power sector and smart infrastructure solution company, has secured a key subcontract for the deployment of an Advanced Distribution Management System (ADMS) under…

Power distribution
ContractSupply

Ganesh Green Bharat · client: NTPC Renewable Energy

Ganesh Green Bharat Ltd bagged a 1,000 MWh Battery Energy Storage System (BESS) engineering, procurement, and construction (EPC) contract from NTPC Renewable Energy Ltd (NTPC REL).

Renewable energy
FundingQualified Institutional Placement (QIP)

Acme solar

Acme Solar aims to raise up to ₹2,800 crore through the QIP. The issue comprises a base size of ₹2,600 crore, along with a greenshoe option of ₹200 crore.

Investors Na
M&AAcquisition · Announced

Aditya birla group acquires Sprng energy

According to sources to Manicontrol, after collecting binding bids, Aditya Birla Group, led by Kumar Mangalum Birla, has taken the lead in the race to buy Indian Renewable Energy…

Renewable Energy
ContractSupply

Hirschvogel Components · client: Hinduja renewables

Hinduja Renewables Energy Private Limited (HREPL), the renewable energy Company of the Hinduja Group, has signed solar Power Delivery Agreements with Höganäs India Private Limited and…

Renewable energy
ContractSupply

Hoganäs India Private Limited · client: Hinduja renewables

Hinduja Renewables Energy Private Limited (HREPL), the renewable energy Company of the Hinduja Group, has signed solar Power Delivery Agreements with Höganäs India Private Limited and…

Renewable energy
ContractSupply

Sharika enterprises · client: East india udyog

Smart grid firm Sharika Enterprises Limited has secured a ₹24.90 crore subcontract from East India Udyog Limited for UPCL's Ganga Corridor project.

Power
ContractSupply

Saatvik Green Energy · client: Domestic independent power producer

Saatvik Green Energy Limited today announced that it has received and accepted an order aggregating to ₹171.45 crore for a domestic independent power producer.

Clean energy / solar
M&AAcquisition · Completed

Thakral acquires TIL Investments Private Limited (TIL)

Thakral Corporation Ltd (TCL) has completed the acquisition of an additional 81.64% equity stake in TIL Investments Private Limited (TIL) through its wholly-owned subsidiary, Paramount…

Healthcare-led real estate development
M&AMerger · Completed

Mascot dynamics acquires Amrut Energy Private Limited

Amrut Energy Private Limited, a leading manufacturer of solar-powered water pumping systems, today announced its merger into Mascot Dynamics Private Limited, a diversified engineering…

Solar-powered water pumping systems
ContractSupply

Hpl electric & power · client: GMR Triveni Smart Meters Limited

HPL Electric & Power Limited secured work orders worth Rs. 242.24 crore from multiple infrastructure companies for the supply of smart meters, strengthening its order book and growth…

Smart metering
ContractSupply

Hpl electric & power · client: GMR Kashi Smart Meters Limited

HPL Electric & Power Limited secured work orders worth Rs. 242.24 crore from multiple infrastructure companies for the supply of smart meters, strengthening its order book and growth…

Smart metering
Funding

Waaree energies

Waaree Energies has announced plans to enter the semiconductor segment as part of a broader restructuring exercise, alongside the approval of a fundraising programme of up to ₹100…

Semiconductor, Power Electronics, Renewable Energy
M&AAcquisition · Announced

Waaree acquires Waaree

Waaree Power Private Limited, a wholly owned subsidiary, will acquire 100% shareholding of Waaree Semicon Private Limited from Waaree Sustainable Finance Private Limited

ContractSupply

Bondada Engineering · client: Ambuja cements

Bondada Engineering, a Hyderabad-based engineering, procurement, and construction company, has secured multiple orders worth ₹1.25 billion (~$13.22 million) for a 75 MW solar project in…

Solar
ContractSupply

Bondada Engineering · client: Adani Ports and Special Economic Zone

Bondada Engineering, a Hyderabad-based engineering, procurement, and construction company, has secured multiple orders worth ₹1.25 billion (~$13.22 million) for a 75 MW solar project in…

Solar
M&AAcquisition · Announced

Saatvik Green Energy acquires Melcon

"Our acquisition of Melcon is a strategic step towards deepening our control across the power value chain. By integrating transformer manufacturing, we are not just adding a capability…

Transformer Manufacturing
M&AAcquisition · Announced

Premier energies acquires Ksolare energy

Premier Energies acquired a 51% stake in transformer manufacturer Transcon and inverter producer KSolare Energy. Premier invested INR5 billion (US$56.96 million) in Transcon and INR1.7…

Inverter Production
ContractInfrastructure

Solarworld Energy Solutions Limited · client: NTPC Renewable Energy

Solarworld Energy Solutions Limited has announced the signing of an Engineering, Procurement, and Construction (EPC) contract with NTPC Renewable Energy Limited for the development of a…

Renewable Energy
FundingLetter of Intent

Zodiac energy

Zodiac Energy has received a Letter of Intent (LoI) worth around $3.28 million (around Rs 30.85 crore) from an international entity based in Zambia. The LoI is for execution of a turnkey…

Investors Na
Solar Energy
M&AAcquisition · Announced

Inox Clean Energy acquires Sunsource energy

It also announced the acquisition of a solar projects portfolio from SunSource Energy, the Indian arm of the Netherlands-based SHV Energy.

Solar Energy
M&AAcquisition · Announced

Inox Clean Energy acquires Sunsource energy

It also announced the acquisition of a solar projects portfolio from SunSource Energy, the Indian arm of the Netherlands-based SHV Energy.

Solar Projects
ContractGovernment

Uttar Pradesh government · client: Loom solar

Loom Solar has secured a second land allotment from the Uttar Pradesh government to scale its solar and Battery Energy Storage Systems (BESS) manufacturing capacity.

Renewable Energy
M&AAcquisition · Completed

Shell Group acquires Sprng energy

Shell Group acquired Sprng as part of a global clean energy pivot for $1.55 billion in 2022.

Renewable Energy
M&AAcquisition · Pending

National Investment and Infrastructure Fund (NIIF) acquires Sprng energy

National Investment and Infrastructure Fund (NIIF) has emerged as the frontrunner to acquire Sprng Energy from Shell for nearly $1.7 billion, said people in the know, as India’s…

Renewable Power / Energy
ContractService

Sterling and wilson renewable energy · client: Coal india

The company said it has been declared the L1 bidder for a turnkey EPC package from Coal India for the development of an 875 MW (AC) grid-connected solar PV project in Bikaner, Rajasthan.…

Renewable Energy
FundingParent company guarantee

Sterling and wilson renewable energy

Sterling and Wilson Renewable Energy Limited has issued a USD 34 million parent company guarantee in favour of Nedbank Limited to secure an additional working capital facility for…

Investors Nedbank
Solar power
ContractSupply

Ganesh Green Bharat · client: Na

Ganesh Green Bharat on Friday said that it has bagged a new order worth ₹430 crore for the supply of bifacial solar modules.

Solar
M&AAcquisition

Thermax acquires Exactspace

Thermax acquired ExactSpace, a specialist in AI-driven industrial IoT solutions.

Solar energy companies in Ahmedabad, by revenue

Browse solar energy companies in Ahmedabad by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 67 solar energy companies in Ahmedabad, Gujarat that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

Independent power producer from renewable energy sources

Solar energy
₹12,422.00 crFY 2024-25
+18%2024–2025
3,380-26% 12 mo to Jul 2024LinkedIn · Oct 2026
14 yr2012
1postings · last posted Sep 2026

Producer of solar cells and modules

Solar energy
₹6,488.37 crFY 2024-25
+99%2024–2025
5,801+7% 12 mo to Mar 2024LinkedIn · Oct 2026
12 yr2014
5postings · last posted Aug 2026

Manufacturer of solar modules and provider of solar energy solutions

Solar energy
₹1,429.59 crFY 2024-25
+605%2024–2025
18recorded Sep 2024
4 yr2022
0none in 3 months

Developer of solar and wind energy projects

Solar energy
₹1,403.30 crFY 2024-25
+74%2024–2025
83-2% 12 mo to Sep 2024recorded Sep 2024
10 yr2016
0none in 3 months

Provider of solar EPC, IPP services, and battery energy storage systems

Solar energy
₹1,022.91 crFY 2024-25
+7%2024–2025
426+100% 12 mo to Jul 2024LinkedIn · Oct 2026
13 yr2013
0none in 3 months · last posted Jun 2026

Provider of solar advisory and execution services

Solar energy
₹995.89 crFY 2023-24
+147%2023–2024
174+500% vs previous recordLinkedIn · Oct 2026
14 yr2012
0none in 3 months

Renewable energy company specializing in high-quality solar products

Solar energy
₹669.12 crFY 2024-25
+172%2024–2025
430-3% 12 mo to Sep 2024LinkedIn · Jul 2026
21 yr2005
1postings · last posted Aug 2026

Provider of solar water pumping systems and other solar energy solutions

Solar energy
₹520.37 crFY 2024-25
+42%2024–2025
—Not available
32 yr1994
0none in 3 months

Multinational conglomerate operating across six industry verticals, including flexible packaging, industrial material handling, solar renewables, drip irrigation and pipes

Solar energy
₹492.63 crFY 2024-25
+11%2024–2025
1,222+79% vs previous recordLinkedIn · Jul 2026
14 yr2012
0none in 3 months

Manufacturer of solar panels and other renewable energy products

Solar energy
₹441.14 crFY 2024-25
+193%2024–2025
290+98% 12 mo to Sep 2024LinkedIn · Oct 2026
13 yr2013
0none in 3 months · last posted Jul 2026

Installation of solar parabolic trough, solar water heaters and panels

Solar energy
₹409.67 crFY 2024-25
Not reported
172+11% 12 mo to Jul 2024LinkedIn · Oct 2026
34 yr1992
0none in 3 months · last posted Jul 2026

Manufacturer of mono and poly crystalline PV modules, solar pumps, and solar street lights

Solar energy
₹330.82 crFY 2024-25
+64%2024–2025
127+6% 12 mo to Sep 2024LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Provider of EPC sustainable solutions utilizing green energy with a focus on solar power

Solar energy
₹321.76 crFY 2024-25
+87%2024–2025
142+456% 12 mo to Sep 2024LinkedIn · Oct 2026
27 yr1999
0none in 3 months

Deon Energy Limited: Solar infrastructure projects, Solar PV Modules, Manufacturing plan, Sustainable energy, Solar and Wind Energy

Solar energy
₹286.05 crFY 2024-25
Not reported
78LinkedIn · Jul 2026
8 yr2018
0none in 3 months · last posted Jun 2026

Provider of finance, insurance, and renewable energy solutions

Solar energy
₹235.51 crFY 2024-25
+132%2024–2025
74LinkedIn · Jul 2026
14 yr2012
0none in 3 months

Company specializing in solar PV manufacturing and solutions

Solar energy
₹231.09 crFY 2024-25
+30%2024–2025
518LinkedIn · Oct 2026
8 yr2018
0none in 3 months

Manufacturer of solar powered products

Solar energy
₹190.29 crFY 2024-25
+98%2024–2025
44+50% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months · last posted Feb 2025

Manufacturer of solar panel

Solar energy
₹186.55 crFY 2024-25
+78%2024–2025
113+40% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Manufacturer and service provider in the solar energy sector

Solar energy
₹174.04 crFY 2022-23
Not reported
34+48% 12 mo to Jul 2019recorded Jul 2019
32 yr1994
—No postings tracked

Solar manufacturing company that produces high-efficiency solar PV modules

Solar energy
₹154.76 crFY 2024-25
+186%2024–2025
41LinkedIn · Jul 2026
6 yr2020
0none in 3 months · last posted Apr 2026

Manufacturer and exporter of solar photovoltaic encapsulants & backsheets

Solar energy
₹148.75 crFY 2024-25
+55%2024–2025
111+29% 12 mo to Sep 2024LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Manufacturers and resellers of solar modules and systems

Solar energy
₹140.90 crFY 2024-25
+31%2024–2025
127LinkedIn · Jul 2026
12 yr2014
1postings · last posted Aug 2026

Manufacturer of solar modules

Solar energy
₹121.36 crFY 2024-25
+55%2024–2025
68+0% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Manufacturer of solar panels and indoor LED lights

Solar energy
₹84.40 crFY 2024-25
-8%2024–2025
23+0% 12 mo to Mar 2024LinkedIn · Oct 2026
27 yr1999
0none in 3 months · last posted Jul 2026

Manufacturer of solar powered products

Waste & water management
₹76.87 crFY 2024-25
+159%2024–2025
6LinkedIn · Jul 2026
9 yr2017
0none in 3 months
50 of 107 companies shown here · the full list is on Radar
Fliar Radar

Explore all 107 solar energy companies in Ahmedabad on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open solar energy in Ahmedabad on Radar
  • Every company, not just 50All 107 solar energy companies in Ahmedabad, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore solar energy companies in Ahmedabad by what you are looking for

Browse the top solar energy companies in Ahmedabad, including solar panel manufacturers and solar project developers. You can also find solar energy startups in Ahmedabad, listed solar companies and firms that are hiring.

9 ways to explore solar energy in Ahmedabad

Solar panel & module manufacturersSolar EPC & project development companiesSolar power producers & utilitiesSolar pumps, water heaters & lightingSolar operations, maintenance & servicesBioenergy & energy storage companies

Solar panel & module manufacturers

Manufacturers of solar panels, cells, modules and related components.

  1. Adani Solar

    Producer of solar cells and modules

    Solar energy
    See in list
  2. Sahaj Solar

    Manufacturer of mono and poly crystalline PV modules, solar pumps, and solar street lights

    Solar energy
    See in list
  3. Ganesh Green Bharat

    Provider of EPC sustainable solutions utilizing green energy with a focus on solar power

    Solar energy
    See in list
  4. Citizen solar

    Manufacturer of solar panel

    Solar energy
    See in list
  5. Solar Manufacturer

    Manufacturer and supplier of solar powered products

    Solar energy
    See in list

Solar EPC & project development companies

Companies that design, install and develop solar power plants and rooftop systems.

  1. GREW

    Manufacturer of solar modules and provider of solar energy solutions

    Solar energy
    See in list
  2. Vishakha Renewables

    Developer of solar and wind energy projects

    Solar energy
    See in list
  3. Prozeal Green

    Provider of solar EPC, IPP services, and battery energy storage systems

    Solar energy
    See in list
  4. Soleos Solar Energy

    Provider of finance, insurance, and renewable energy solutions

    Solar energy
    See in list
  5. Aatmanirbhar Solar

    Solar manufacturing company that produces high-efficiency solar PV modules

    Solar energy
    See in list

Solar power producers & utilities

Independent power producers generating utility-scale solar and wind energy.

  1. Adani Green Energy

    Independent power producer from renewable energy sources

    Solar energy
    See in list
  2. Unilink Engineering

    Project developer and service provider in the solar and wind energy sector

    Wind energy
    Website
  3. IceCube

    Provider of electrical, instrumentation, and control engineering and EPC contracting services

    Solar energy
    See in list
  4. Prozeal Green

    Provider of solar EPC, IPP services, and battery energy storage systems

    Solar energy
    See in list
  5. Gensol solar

    Provides solar EPC and allied services

    Solar energy
    Website

Solar pumps, water heaters & lighting

Solar-powered pumps, lights, water heaters and agricultural products.

  1. GRE Renew Enertech

    Manufacturer of solar panels and indoor LED lights

    Solar energy
    See in list
  2. Rudra Solar Energy

    Manufactures solar cooker, solar dryer, solar water heater, solar education kits

    Solar energy
    Website
  3. Solar Safer

    Provider of solar rooftop systems and related services. This includes design, installation, and maintenance for residential, commercial, and industrial clients. They offer a complete solution, encompassing all aspects of solar energy implementation. The company also acts as an EPC contractor and supplies solar panels, water heaters, and inverters. Their services are tailored to meet individual project needs, ensuring efficient and sustainable solar solutions.

    Solar energy
    Website
  4. Nessa

    Offers solar consumer goods

    Energy efficiency
    See in list
  5. Aqua Sun Solar

    Manufacturer of solar pump systems and accessories

    Solar energy
    Website

Solar operations, maintenance & services

Service providers that operate, clean and maintain solar plants.

  1. Mitarsh Energy

    Provider of solar operation & maintenance service

    Solar energy
    See in list
  2. Cleanmax

    Provider of commercial cleaning services for businesses and commercial properties

    Facility management services
    Website
  3. Unilink Engineering

    Project developer and service provider in the solar and wind energy sector

    Wind energy
    Website
  4. RB Solar Energy

    Manufacturer of solar-powered lighting and agricultural equipment. This includes LED street lights, flood lights, and solar-powered agricultural machinery. The company focuses on providing efficient and reliable products for both residential and commercial applications. Products are designed for ease of installation and minimal maintenance. The manufacturing process incorporates quality testing to ensure adherence to defined parameters.

    Solar energy
    Website
  5. Prozeal Green

    Provider of solar EPC, IPP services, and battery energy storage systems

    Solar energy
    See in list

Bioenergy & energy storage companies

Companies in biomass, biogas and battery storage alongside solar.

  1. Abellon CleanEnergy

    Produces biomass pellets and bio-gas

    Life sciences platforms and tools
    See in list
  2. Divya Hi-Tech Solar Project

    Provider of solar power plant consulting, EPC services, and energy storage

    Energy storage tech
    Website
  3. Surya Solar and Waters

    Manufacturer of solar powered products

    Waste & water management
    See in list
  4. IceCube

    Provider of electrical, instrumentation, and control engineering and EPC contracting services

    Solar energy
    See in list

Listed solar energy companies in Ahmedabad

Publicly listed solar energy companies.

  1. Adani Green Energy

    Independent power producer from renewable energy sources

    Solar energy
    See in list
  2. Gensol

    Provider of solar advisory and execution services

    Solar energy
    See in list
  3. Australian Premium Solar

    Manufacturer of solar panels and other renewable energy products

    Solar energy
    See in list
  4. Zodiac Energy

    Installation of solar parabolic trough, solar water heaters and panels

    Solar energy
    See in list
  5. Sahaj Solar

    Manufacturer of mono and poly crystalline PV modules, solar pumps, and solar street lights

    Solar energy
    See in list
9 companies in Ahmedabad

Solar energy startups in Ahmedabad

Newer solar companies founded in recent years.

  1. GREW

    Manufacturer of solar modules and provider of solar energy solutions

    Solar energy
    See in list
  2. Solar ACE

    Provider of solar energy design, engineering, procurement, operation & maintenance services

    Solar energy
    Website
  3. Knack Energy

    Manufacturer and exporter of solar photovoltaic encapsulants & backsheets

    Solar energy
    See in list
  4. GreenOps

    Developer of solar renewable energy power projects

    Solar energy
    Website
  5. Green Infra

    Provider of end-to-end solar energy solutions

    Solar energy
    Website
7 companies in Ahmedabad

Solar energy companies hiring in Ahmedabad

Solar companies with open roles right now.

  1. Adani Green Energy

    Independent power producer from renewable energy sources

    Solar energy
    See in list
  2. Solar ACE

    Provider of solar energy design, engineering, procurement, operation & maintenance services

    Solar energy
    Website
  3. Prozeal Green

    Provider of solar EPC, IPP services, and battery energy storage systems

    Solar energy
    See in list
  4. KOSOL Energie

    Renewable energy company specializing in high-quality solar products

    Solar energy
    See in list
  5. Australian Premium Solar

    Manufacturer of solar panels and other renewable energy products

    Solar energy
    See in list
14 companies in Ahmedabad
Mobile reach

Top 7 solar energy apps from Ahmedabad

The most-installed Android apps published by solar energy companies headquartered in Ahmedabad — 12K installs between them. 7 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 7
4

Evotar Solar

by Evotar

Installs329
Rating—
Last updatedJun 2025
View on Google Play ↗
Evotar Solar screenshot 1Evotar Solar screenshot 2Evotar Solar screenshot 3Evotar Solar screenshot 4Evotar Solar screenshot 5Evotar Solar screenshot 6
5

Onecharge GreenPill

by Greenpill

Installs266
Rating—
Last updatedOct 2025
View on Google Play ↗
Onecharge GreenPill screenshot 1Onecharge GreenPill screenshot 2Onecharge GreenPill screenshot 3Onecharge GreenPill screenshot 4Onecharge GreenPill screenshot 5Onecharge GreenPill screenshot 6
The business behind the activity

Solar energy financials in Ahmedabad

Revenue, profit and growth from the filed annual accounts of 62 solar energy companies in Ahmedabad, Gujarat for FY24-25 — 70 of the 107 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 85% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹35,709.86 cr

62 companies filing accounts

combined net profit₹2,207.91 cr

6.2% aggregate margin

are profitable94%

58 of 62 companies

median revenue~₹37.1 cr

the typical company

median revenue growth+42%

into FY24-25

earned by the top five85%

revenue concentration

Six-year view

Combined revenue of filing companies

₹5,432.42 crFY19-2053 filers
₹7,696.86 crFY20-2151 filers
₹16,525.63 crFY21-2256 filers
₹13,879.68 crFY22-2360 filers
₹22,170.84 crFY23-2460 filers
₹35,709.86 crFY24-2562 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 55 companies over three years

+153%
FY22-23₹13,440.84 cr−₹585.78 cr net
FY23-24₹20,976.33 cr−₹154.78 cr net
FY24-25₹33,953.25 cr₹2,098.33 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr580% profitable
₹1–10 cr1182% profitable
₹10–100 cr2696% profitable
₹100–1,000 cr16100% profitable
Over ₹1,000 cr4100% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking11
0–20%9
20–50%10
50–100%19
Doubled+9

58 companies with accounts for both years; median growth +42%.

Profitability

Profit is concentrated at the top

58profitable
4loss-making
6.2%aggregate margin
3.3%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
GREWGREW ENERGY PRIVATE LIMITED+605%₹1,429.59 cr
GreenpillGREENPILL RENEWABLE ENERGY PRIVATE LIMITED
Australian Premium SolarAUSTRALIAN PREMIUM SOLAR (INDIA) LIMITED+189%₹435.05 cr
Aatmanirbhar SolarAATMANIRBHAR SOLAR PRIVATE LIMITED+186%₹154.76 cr
KOSOL EnergieKOSOL ENERGIE PRIVATE LIMITED+172%₹669.12 cr
Surya Solar and WatersSURYA SOLAR AND WATERS PRIVATE LIMITED+159%₹76.87 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Solar ManufacturerGRACE INFRASTRUCTURE PRIVATE LIMITED
Adani SolarMUNDRA SOLAR PV LIMITED16.7%₹6,488.37 cr
MechatronikMECHATRONIK RENEWABLES PRIVATE LIMITED
Soleos Solar EnergySOLEOS ENERGY LIMITED12.5%₹191.33 cr
AVI Renewable EnergyAVI RENEWABLE ENERGY PRIVATE LIMITED11.6%₹520.37 cr
Drashta Green PowerDRASHTA GREEN POWER LIMITED
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Solar energy58₹35,587.46 cr~₹40.5 cr95%6.6%
Leaders

Largest solar energy companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Adani Green EnergyAdani Green Energy Limited₹20,749.00 cr₹654.00 cr3.2%+61%
Adani SolarMUNDRA SOLAR PV LIMITED₹6,488.37 cr₹1,085.03 cr16.7%+99%
GREWGREW ENERGY PRIVATE LIMITED₹1,429.59 cr₹80.18 cr5.6%+605%
Prozeal GreenPROZEAL GREEN ENERGY LIMITED₹1,055.83 cr₹112.63 cr10.7%+10%
KOSOL EnergieKOSOL ENERGIE PRIVATE LIMITED₹669.12 cr₹51.96 cr7.8%+172%
AVI Renewable EnergyAVI RENEWABLE ENERGY PRIVATE LIMITED₹520.37 cr₹60.27 cr11.6%+42%
VishakhaVISHAKHA POLYFAB PRIVATE LIMITED₹492.63 cr₹26.35 cr5.3%+11%
Vishakha RenewablesVISHAKHA RENEWABLES PRIVATE LIMITED₹439.46 cr₹1.01 cr0.2%-32%
Australian Premium SolarAUSTRALIAN PREMIUM SOLAR (INDIA) LIMITED₹435.05 cr₹39.13 cr9.0%+189%
Zodiac EnergyZODIAC ENERGY LIMITED₹409.67 cr₹19.97 cr4.9%+85%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Chemicals and Materials Industry Landscape of Ahmedabad

The financials above are one chapter. The full solar energy landscape of Ahmedabad maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the solar energy landscape of Ahmedabad
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Solar energy funding and M&A across India

377 recorded equity rounds have gone to 2,531 solar energy companies in India — how much, at which stage, into which sub-sectors, from whom, and how Ahmedabad compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months11

US$730.02m

equity rounds, last 24 months46

US$1.23bn

raised over five yearsUS$4.24bn

155 rounds in India

M&A deals, India105

last 24 months

Capital by year

Equity funding into solar energy in India

amount rounds
$532m201822
$905m201913
$440m202012
$600m202122
$902m202221
$783m202328
$786m202449
$791m202527
$382m20268

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2019, with US$905.43m across 13 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$102.18m23 rounds · median US$337k
SeedUS$47.59m44 rounds · median US$436k
Series AUS$345.68m35 rounds · median US$4.28m
Series BUS$614.78m15 rounds · median US$27.10m
Series CUS$498.59m13 rounds · median US$28.94m
Series D+US$2.17bn20 rounds · median US$58.75m
Private equityUS$464.95m5 rounds · median US$59.86m
Where the money went · five years

Most-funded sub-sectors

Solar energyUS$3.38bn122 rounds · 64 companies
Wind energyUS$771.24m11 rounds · 4 companies
Alternative lendingUS$54.61m4 rounds · 1 companies
Service providers to banksUS$15.66m4 rounds · 1 companies
Renewable energy techUS$11.80m3 rounds · 2 companies
Investment techUS$11.47m6 rounds · 1 companies
Energy storageUS$478k2 rounds · 1 companies
Corporate activity · last 24 months

M&A in India

102Acquisition
2Merger
1Announced

Most active acquirers

  1. Waaree energies14
  2. Premier energies9
  3. ONGC NTPC Green Private Limited (ONGPL)8
  4. Thermax4
  5. Na4

Most acquired or merged

  1. Sprng energy10
  2. Ayana renewable power9
  3. Ksolare energy6
  4. Sterling and wilson renewable energy5
  5. O2 power4

Each deal appears in the events strip at the top of the page.

Solar energy funding in Ahmedabad

8 solar energy companies in Ahmedabad have recorded equity funding, US$198.12m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Ahmedabad

Meet the people behind solar energy companies in Ahmedabad. 56 of 107 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Keep exploring solar energy in India and nearby markets.

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