Company lists
The Kerala edition · 2026

Solar energycompanies in Kerala

Installers, panels & products, project developers, power solutions, renewable & bioenergy and more: the companies building solar energy in Kerala, with their founders, funding, team size and business models.

93 company profiles32 with reported revenue0 with recorded fundingOctober 2026 edition
Kerala · 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: 512 Contracts · 99 M&A deals · 71 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

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

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
ContractTechnology

Sharika enterprises · client: Uttarakhand power corporation limited (upcl)

Awarded under the Uttarakhand Power Corporation Limited's (UPCL) flagship Ganga Corridor power distribution modernization project, Sharika Enterprises will work with East India Udyog…

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: 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
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
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 Projects
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
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 · 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
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
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 Kerala, by revenue

Browse solar energy companies in Kerala by reported revenue, one-year revenue growth, revenue model, age and stage. The 32 companies below are the largest by their most recent reported revenue among 32 solar energy companies in Kerala 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 32

Provider of range of products and services including on-grid and off-grid solar systems, with a focus on sustainable energy solutions

Solar energy
₹155.12 crFY 2024-25
+137%2024–2025
—Not available
21 yr2005
0none in 3 months

Provider of solar panels, lights, water heaters, grid systems, and inverters

Solar energy
₹58.90 crFY 2024-25
+113%2024–2025
1LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Provider of solar energy services and products

Solar energy
₹43.15 crFY 2024-25
+180%2024–2025
36LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Developer of solar energy projects

Solar energy
₹38.40 crFY 2024-25
-10%2024–2025
—Not available
14 yr2012
0none in 3 months

Offers and installs solar products

Solar energy
₹32.79 crFY 2024-25
+26%2024–2025
38LinkedIn · Jul 2026
13 yr2013
0none in 3 months

Provider of solar energy solutions for residential and commercial applications

Solar energy
₹22.00 crFY 2024-25
+28%2024–2025
—Not available
13 yr2013
0none in 3 months

Distributor of solar panels, inverters, batteries, cables, and related solar energy equipment

Solar energy
₹18.54 crFY 2023-24
+200%2023–2024
—Not available
8 yr2018
0none in 3 months

Developers of floating solar power projects

Solar energy
₹15.49 crFY 2024-25
+53%2024–2025
34+0% vs previous recordLinkedIn · Jul 2026
14 yr2012
0none in 3 months

Provider of power solutions, including generators, UPS systems, batteries, and filters

Electricity transmission & distribution equipment
₹14.26 crFY 2024-25
+8%2024–2025
75-9% 12 mo to Sep 2024LinkedIn · Jul 2026
28 yr1998
2postings · last posted Sep 2026

Solar company specializing in harnessing solar energy using the latest technologies

Solar energy
₹13.02 crFY 2024-25
+60%2024–2025
—Not available
14 yr2012
0none in 3 months

Provider of solar panel installation services

Solar energy
₹10.31 crFY 2024-25
+44%2024–2025
6+21% 12 mo to Sep 2024LinkedIn · Jul 2026
10 yr2016
0none in 3 months

Manufacturer of solar powered products

Solar energy
₹8.34 crFY 2024-25
Not reported
—Not available
14 yr2012
0none in 3 months

Provider of solar panel installation services

Solar energy
₹8.18 crFY 2024-25
-3%2024–2025
19+4% vs previous recordLinkedIn · Jul 2026
11 yr2015
0none in 3 months

Manufactures solar water heaters

Solar energy
₹7.30 crFY 2024-25
+64%2024–2025
3LinkedIn · Jul 2026
27 yr1999
0none in 3 months

Manufacturer of solar powered charge controllers

Solar energy
₹6.50 crFY 2024-25
+656%2024–2025
29LinkedIn · Jul 2026
11 yr2015
0none in 3 months · last posted Nov 2025

Solar PV power generation

Solar energy
₹6.23 crFY 2024-25
+84%2024–2025
—Not available
20 yr2006
0none in 3 months

Manufacturer of solar powered products

Solar energy
₹4.06 crFY 2024-25
+190%2024–2025
—Not available
13 yr2013
0none in 3 months

Turnkey solar services provider on a distributed scale

Solar energy
₹3.47 crFY 2024-25
-12%2024–2025
4LinkedIn · Jul 2026
14 yr2012
0none in 3 months

Provider of solar energy solutions and products

Solar energy
₹2.28 crFY 2024-25
+24%2024–2025
—Not available
6 yr2020
0none in 3 months

Manufacturer of solar products, refrigeration products, and voltage stabilizing

Solar energy
₹2.18 crFY 2023-24
Not reported
—Not available
25 yr2001
0none in 3 months

Solar energy based power backup solutions

Solar energy
₹1.83 crFY 2023-24
-24%2023–2024
—Not available
20 yr2006
0none in 3 months

Manufacturer of solar water & waste water products

Solar energy
₹1.68 crFY 2024-25
+6%2024–2025
3LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Manufactures solar products

Solar energy
₹1.61 crFY 2024-25
+19%2024–2025
17+54% 12 mo to Aug 2022recorded Aug 2022
33 yr1993
0none in 3 months

Turnkey solar PV system project developer on a residential and commercial scale

Solar energy
₹1.29 crFY 2021-22
+7%2021–2022
13LinkedIn · Jul 2026
32 yr1994
0none in 3 months · last posted Jun 2026

Manufacturer of solar products

Solar energy
₹1.20 crFY 2023-24
+11%2023–2024
11LinkedIn · Jul 2026
9 yr2017
0none in 3 months
32 of 93 companies shown here · the full list is on Radar
Fliar Radar

Explore all 93 solar energy companies in Kerala on Radar

This page shows the top 32. Radar has the complete, filterable list with contacts and live company signals.

Open solar energy in Kerala on Radar
  • Every company, not just 50All 93 solar energy companies in Kerala, 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 Kerala by what you are looking for

Browse solar energy companies in Kerala, from rooftop solar installers to solar panel and solar product makers. Find solar energy startups in Kerala and the top solar energy companies in India that serve the state.

7 ways to explore solar energy in Kerala

Solar system installers & EPC companiesSolar panels & solar product companiesSolar project developers & power producersPower, backup & energy efficiency solution providersRenewable energy consulting, bioenergy & waste-to-energySolar energy startups in Kerala

Solar system installers & EPC companies

Companies that design and install rooftop and grid-connected solar systems for homes and businesses.

  1. Kodco Energy India

    Provider of range of products and services including on-grid and off-grid solar systems, with a focus on sustainable energy solutions

    Solar energy
    See in list
  2. Roze Solar Solutions

    Provider of solar panels, lights, water heaters, grid systems, and inverters

    Solar energy
    See in list
  3. CIAL Infra

    Developer of solar energy projects

    Solar energy
    See in list
  4. WattSun Energy

    Offers and installs solar products

    Solar energy
    See in list
  5. Renergyindia

    Provider of solar energy solutions for residential and commercial applications

    Solar energy
    See in list

Solar panels & solar product companies

Makers and suppliers of solar panels, solar lights, water heaters and other solar-powered products.

  1. Unicorn Power Solutions

    Provider of power solutions, including generators, UPS systems, batteries, and filters

    Electricity transmission & distribution equipment
    See in list
  2. TerrapaxX

    Provider of solar panel installation services

    Solar energy
    See in list
  3. GreenTurn

    Manufacturer of solar powered products

    Solar energy
    See in list
  4. Kraftwork

    Manufactures solar water heaters

    Solar energy
    See in list
  5. Ammini Solar

    Manufactures solar products

    Solar energy
    See in list

Solar project developers & power producers

Developers of solar energy projects and independent power producers building larger solar plants.

  1. Kodco Energy India

    Provider of range of products and services including on-grid and off-grid solar systems, with a focus on sustainable energy solutions

    Solar energy
    See in list
  2. Roze Solar Solutions

    Provider of solar panels, lights, water heaters, grid systems, and inverters

    Solar energy
    See in list
  3. CIAL Infra

    Developer of solar energy projects

    Solar energy
    See in list
  4. WattSun Energy

    Offers and installs solar products

    Solar energy
    See in list
  5. Renergyindia

    Provider of solar energy solutions for residential and commercial applications

    Solar energy
    See in list

Power, backup & energy efficiency solution providers

Providers of power electronics, UPS, battery and energy-saving solutions that work alongside solar.

  1. Unicorn Power Solutions

    Provider of power solutions, including generators, UPS systems, batteries, and filters

    Electricity transmission & distribution equipment
    See in list
  2. ASHAPOWER

    Manufacturer of solar powered charge controllers

    Solar energy
    See in list
  3. Semilon Technologies

    Solar based solutions and LED lights manufacturer

    Solar energy
    See in list
  4. Ardha Global

    Provider of LED lighting, healthcare, shipping, and marble solutions. It offers a one-stop solution for LED lighting needs, high-quality marble products, and comprehensive shipping and logistics services. In healthcare, it facilitates access to medical tourism. The company also operates in education and communication sectors. It focuses on providing quality services with a global perspective.

    Solar energy
    Website
  5. hardoll enterprises

    Hardoll Enterprises is a manufacturer, wholesaler, trader, and importer of solar light and off grid solar inverter.

    Solar energy
    Website

Renewable energy consulting, bioenergy & waste-to-energy

Companies offering renewable energy consulting, biogas and waste-based energy alongside solar.

  1. TerraStrom

    Provider of renewable energy consulting services for optimal performance and profitability

    Renewable energy tech
    Website
  2. Geltra Technologies

    Manufacturer of solar powered products

    Solar energy
    Website
  3. Sonetec Powers

    Provider of renewable energy solutions, including solar power and biogas plants

    Solar energy
    Website

Solar energy startups in Kerala

Newer solar energy companies in Kerala founded in recent years.

  1. Narrow Ray Innovations

    Developer of solar power plants

    Solar energy
    See in list
  2. KSEBRS Services

    Provider of solar energy solutions with a focus on innovation and sustainability

    Solar energy
    See in list
  3. GNOWGEN

    Provider of sustainability solutions using technology

    Solar energy
    Website
  4. Electricbuy

    Provider of solar panels, lights, inverters, and cables

    Solar energy
    Website
  5. Futuretech Energy Solutions

    Provider of solar panel installation services

    Solar energy
    Website
12 companies in Kerala

Solar energy companies hiring in Kerala

Solar energy companies in Kerala that are currently hiring.

  1. Unicorn Power Solutions

    Provider of power solutions, including generators, UPS systems, batteries, and filters

    Electricity transmission & distribution equipment
    See in list
  2. ASHAPOWER

    Manufacturer of solar powered charge controllers

    Solar energy
    See in list
  3. TeamSustain

    Turnkey solar PV system project developer on a residential and commercial scale

    Solar energy
    See in list
  4. GNOWGEN

    Provider of sustainability solutions using technology

    Solar energy
    Website
4 companies in Kerala
Mobile reach

Top 5 solar energy apps from Kerala

The most-installed Android apps published by solar energy companies headquartered in Kerala — 3K installs between them. 5 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 5
The business behind the activity

Solar energy financials in Kerala

Revenue, profit and growth from the filed annual accounts of 29 solar energy companies in Kerala for FY24-25 — 39 of the 93 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 67% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹512.93 cr

29 companies filing accounts

combined net profit₹22.89 cr

4.5% aggregate margin

are profitable83%

24 of 29 companies

median revenue~₹6.5 cr

the typical company

median revenue growth+34%

into FY24-25

earned by the top five67%

revenue concentration

Six-year view

Combined revenue of filing companies

₹100.42 crFY19-2022 filers
₹101.11 crFY20-2126 filers
₹123.65 crFY21-2227 filers
₹221.75 crFY22-2329 filers
₹364.48 crFY23-2432 filers
₹512.93 crFY24-2529 filers

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

Like-for-like

The same 24 companies over three years

+135%
FY22-23₹211.03 cr₹16.44 cr net
FY23-24₹324.45 cr₹21.17 cr net
FY24-25₹495.52 cr₹25.27 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 cr450% profitable
₹1–10 cr1479% profitable
₹10–100 cr10100% profitable
₹100–1,000 cr1100% profitable
Over ₹1,000 cr0—

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

Momentum

How fast revenue moved into FY24-25

Shrinking6
0–20%5
20–50%5
50–100%6
Doubled+6

28 companies with accounts for both years; median growth +34%.

Profitability

Profit is concentrated at the top

24profitable
5loss-making
4.5%aggregate margin
1.7%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
Virgin Power & EngineeringVIRGIN POWER AND ENGINEERING PRIVATE LIMITED+180%₹43.15 cr
Kodco Energy IndiaKODCO ENERGY INDIA PRIVATE LIMITED+137%₹155.12 cr
Roze Solar SolutionsROZE SOLAR SOLUTIONS PRIVATE LIMITED+113%₹58.90 cr
Recon EnergyRECON ENERGY INDIA PRIVATE LIMITED+60%₹13.02 cr
Vatsaa EnergyVATSAA ENERGY PRIVATE LIMITED+53%₹15.49 cr
TerrapaxXSASHMA GLOBAL PRIVATE LIMITED+44%₹10.31 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
CIAL InfraCIAL INFRASTRUCTURES LIMITED21.2%₹38.40 cr
Vatsaa EnergyVATSAA ENERGY PRIVATE LIMITED18.6%₹15.49 cr
Kodco Energy IndiaKODCO ENERGY INDIA PRIVATE LIMITED5.4%₹155.12 cr
Moopens Energy SolutionsMOOPENS ENERGY SOLUTIONS PRIVATE LIMITED4.3%₹47.03 cr
Unicorn Power SolutionsUNICORN POWER SOLUTIONS PRIVATE LIMITED3.9%₹14.26 cr
Recon EnergyRECON ENERGY INDIA PRIVATE LIMITED3.7%₹13.02 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Solar energy28₹498.67 cr~₹6.4 cr82%4.5%
Leaders

Largest solar energy companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Kodco Energy IndiaKODCO ENERGY INDIA PRIVATE LIMITED₹155.12 cr₹8.44 cr5.4%+137%
Roze Solar SolutionsROZE SOLAR SOLUTIONS PRIVATE LIMITED₹58.90 cr₹97.87 lakh1.7%+113%
Moopens Energy SolutionsMOOPENS ENERGY SOLUTIONS PRIVATE LIMITED₹47.03 cr4.3%-24%
Virgin Power & EngineeringVIRGIN POWER AND ENGINEERING PRIVATE LIMITED₹43.15 cr₹1.27 cr2.9%+180%
CIAL InfraCIAL INFRASTRUCTURES LIMITED₹38.40 cr₹8.15 cr21.2%-10%
WattSun EnergyWATTSUN ENERGY INDIA PRIVATE LIMITED₹32.79 cr₹79.02 lakh2.4%+26%
RenergyindiaRENERGY SYSTEMS INDIA PRIVATE LIMITED₹22.00 cr₹63.38 lakh2.9%+28%
Vatsaa EnergyVATSAA ENERGY PRIVATE LIMITED₹15.49 cr₹2.88 cr18.6%+53%
Unicorn Power SolutionsUNICORN POWER SOLUTIONS PRIVATE LIMITED₹14.26 cr₹56.24 lakh3.9%+8%
Recon EnergyRECON ENERGY INDIA PRIVATE LIMITED₹13.02 cr₹48.58 lakh3.7%+60%
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.

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 Kerala 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, India99

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

96Acquisition
2Merger
1Announced

Most active acquirers

  1. Waaree energies14
  2. Premier energies9
  3. ONGC-NTPC Green Pvt Ltd8
  4. Thermax4
  5. Saatvik Green Energy3

Most acquired or merged

  1. Sprng energy10
  2. Ayana renewable power9
  3. Ksolare energy6
  4. O2 power4
  5. Transcon3

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

Founders and momentum in Kerala

Meet the people behind solar energy companies in Kerala. 16 of 93 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.

Coming soon