For the past few years, the cost of manufacturing solar PV panels has dropped considerably on account of a variety of government policies. Nonetheless, people in India are still not aware of accurate prices, the brands and the technologies related to solar products, services and installations. Experts claim that the addition of solar capacity in India is all set to escalate throughout 2019. In the light of this, the Electronics Bazaar team has set out to let readers know more about the leaders in this field.
By Nijhum Rudra
The Gurugram based renewable energy consultancy firm, Bridge to India, has stated that the collective capacity of the solar power projects installed in 2018 amounted to around 14 gigawatts (GW), which is about 50 per cent more than the preceding year. While, by the end of 2019, the country’s installed solar capacity is expected to touch 38GW, which amounts to 16GW of additional clean energy capacity.
The Electronics Bazaar team conducted a survey among the leading solar companies operating in India to ascertain their performance during 2017-18. While attempting to rank the top solar companies in the country, we faced certain challenges since each firm has its own strengths and is perceived as a leader in a specific domain within the industry. Hence, we ranked these companies only based on their turnover for 2017-18 (as revenues for a majority of the companies for 2018-19 could not be procured). We wanted to include more companies in the listing, but some refrained from sharing their current turnover figures.
Disclaimer: While this survey is by no means comprehensive, it does provide a glimpse into many of India’s key solar companies. While Electronics Bazaar’s editorial team has taken the utmost care to contact all possible sources to make the list comprehensive, we may have inadvertently left out a few companies from this list. Information contained in the following report has been obtained from sources deemed reliable, and Electronics Bazaar makes no claims with respect to its accuracy. Neither Electronics Bazaar nor its affiliates, officers, directors, employees, owners, representatives nor any of its data or content providers shall be liable for any errors or for any actions taken by any entity on the basis of this information.
|Tata Power Solar Systems Ltd|
|Annual revenue 2017-18: ₹ 73.01 billion
Tata Power Solar is a 100 per cent subsidiary of Tata Power. It is a fully integrated solar solutions provider of cells, modules and solar products. It also offers EPC (engineering, procurement and construction) services and has completed almost 160MW of ground-mounted, utility scaled projects and 40MW of rooftop projects up until FY 2014. Its present module and cell manufacturing capacity is 200MW and 180MW, respectively.
Year of establishment: 1989
Headquarters located at: Bengaluru
Manufacturing facilities: Three units in Bengaluru
Manufactures/services provided: Cells, modules, lighting products, power packs and water pumps; EPC
Contact details: Ph: 91-80-6777-2000/3000, www.tatapowersolar.com
|Vikram Solar Pvt Ltd|
|Annual revenue 2017-18: ₹ 18.94 billion
Vikram Solar specialises in the manufacture of PV solar modules. It is part of the Vikram Group, which is a 40-year-old company specialising in engineering and manufacturing activities. The company has an advanced solar PV module manufacturing facility. Its ISO 9001-2008 accredited manufacturing plant, located in the SEZ of Falta, West Bengal, is spread over a sprawling 3716.12sqm and boasts of a 150MW installed production capacity, which will soon be upscaled to 550MW. The company executed projects adding up to a capacity of 40MW in Rajasthan and set up two projects of 5MW each in Gujarat and Tamil Nadu in 2013.
Year of establishment (solar division): 2009
Headquarters located at: Kolkata
Manufacturing facility: Falta, Kolkata
Manufactures/services provided: Solar modules, EPCContact details: Ph: +91 33 22307299, [email protected], www.vikramsolar.com
|Waaree Energies Ltd|
|Annual revenue 2017-18: ₹ 12 billion
Waaree Energies Ltd is a solar PV module manufacturer and EPC services provider in India. With an annual production capacity of 110MW, Waaree manufactures a complete range (1Wp to 300Wp) of off-grid and on-grid PV modules. This year, Waaree Energies has reached the capacity of 250MW, and it is now a public limited company. In August 2013, Waaree Energies bagged a turnkey order for a 25MW power plant from the Roha Group in Rajasthan, and also an order to provide solar power in jails across Madhya Pradesh. In May 2013, it forayed into the solar thermal space.
Year of establishment: 2007
Headquarters located at: Mumbai
Manufacturing facility: Surat, Gujarat
Manufactures/services provided: Modules, solar thermal solutions, solar water pumps, solar portable kits, solar thermal systems, rooftop solutions, etc, and takes on EPC projectsContact details: Ph: +91-22-66444444, [email protected], www.waaree.com
|Annual revenue 2017-18: ₹ 3.14 billion
Indosolar is a manufacturer of solar PV cells. With a plant spread over 300,000 sqm, it accommodates four production lines with a manufacturing capacity of 450MWp per annum. Its average cell efficiency is 17.4 per cent peaking at 18 per cent, with machinery and technology being supplied by Schmid GmbH on a turnkey basis.
Year of establishment: 2008
Headquarters located at: Greater Noida, UP
Manufacturing unit: Greater Noida, UP
Manufactures: Solar cellsContact details: Ph: +91-120-4762500, +91-120-4762500, [email protected], www.indosolar.co.in
|SWELECT Energy Systems|
|Annual revenue 2017-18: ₹ 1.74 billion
SWELECT Energy Systems (formerly Numeric Power Systems Ltd) is into power and renewable energy systems. It has commissioned a 1.1MW solar power plant in Coimbatore and a 1MW solar power plant in Sivagangai. The company also commissioned a 15MW modular energy power plant at Karur. HHV Solar Technologies Pvt Ltd is a wholly owned subsidiary of SWELECT Energy.
Year of establishment: 1984
Headquarters located at: Chennai
Manufactures/services provided: Solar modules, solar off-grid products; sets up solar power projectsContact details: Ph: +91-44-2499-3266, [email protected], www.swelectes.com
|Navitas Green Solutions|
|Annual revenue 2017-18: ₹ 800 million
Navitas Green Solutions is a provider of cutting-edge mono/multi-crystalline solar photovoltaic (PV) modules which supply sustainable solar electric power to both on-grid and off-grid residential, commercial as well as industrial establishments. The company has an overall installed capacity of 200MW per annum for solar module production. The company claims to pass its modules through 100 per cent electroluminescence testing, pre and post lamination, which will ensure that the modules manufactured are free of micro-cracks.
Year of establishment: 2013
Headquarters located at: Jaipur
Manufacturing unit: Noida, Pune
Manufactures: PV modules, invertersContact details: Ph: +91-7069070990, [email protected], www.navitassolar.in
|Surana Ventures Ltd|
|Annual revenue 2017-18: ₹ 391.19 million
Surana Ventures (part of the Surana Group), manufactures solar power systems primarily based on PV modules, with power outputs ranging from 3Wp to 230Wp. It has an installed capacity of 12MW. Presently, the company has a production capacity of 40MW/annum. In February 2013, Surana Ventures acquired a production line from German photovoltaic (PV) firm, Schott Solar.
Year of establishment: 2008
Headquarters located at: Secunderabad, AP
Manufacturing facility: Cherlapally, Hyderabad
Manufactures: Solar modules and deals in solar lighting systems
Contact details: Ph: +91-40-44665-700, [email protected], www.suranaventures.com
|Annual revenue 2018-19: ₹ 200 million
This newly founded solar company specialises in offering solar power systems, solar panels, solar inverters and solar chargers for some of the renowned solar firms in India. Founded by an executive with experience from Luminous, the company assures customers that it will deliver new products within three days.
Contact details: Ph: +8750778800, [email protected]; www.loomsolar.com