India has been making significant strides in the renewable energy sector, with solar power playing a pivotal role in the country’s energy transition. As one of the world’s fastest-growing economies, India has set ambitious targets for solar energy capacity, aiming to reduce its carbon footprint and ensure sustainable energy for its population. The solar industry in India is flourishing, driven by supportive government policies, technological advancements, and increasing awareness of the benefits of clean energy.
In this vibrant market, several companies have emerged as leaders, contributing to India’s solar energy landscape with innovative solutions, extensive projects, and substantial investments. Here are the top 10 solar companies in India, each playing a crucial role in harnessing the power of the sun to illuminate the nation’s future.
1. Tata Power Solar
Tata Power Solar is a pioneer in the Indian solar industry, known for its extensive experience and robust project execution capabilities. Established in 1989, it is a subsidiary of Tata Power, India’s largest integrated power company. Tata Power Solar offers a wide range of solar solutions, including photovoltaic cells, modules, and customized solar power systems.
| Attribute | Details |
|---|---|
| Founder | Tata Group |
| Year Founded | 1989 |
| Location | Bangalore, Karnataka |
| Products | Solar panels, solar power systems |
| Market | Residential, commercial, industrial |
| Revenue | Approx. $500 million (2023) |
2. Adani Solar
Adani Solar, part of the Adani Group, is a significant player in the Indian solar sector. The company is involved in manufacturing solar cells and modules and developing large-scale solar power projects. With a strong emphasis on sustainability, Adani Solar aims to contribute to India’s renewable energy targets.
| Attribute | Details |
|---|---|
| Founder | Gautam Adani |
| Year Founded | 2015 |
| Location | Ahmedabad, Gujarat |
| Products | Solar cells, modules, EPC services |
| Market | Utility-scale, commercial |
| Revenue | Approx. $1 billion (2023) |
3. Vikram Solar
Vikram Solar is a globally recognized solar energy solutions provider, known for its high-efficiency PV modules and comprehensive EPC solutions. Founded in 2006, the company has a strong presence in both domestic and international markets and is committed to fostering a sustainable energy future.
| Attribute | Details |
|---|---|
| Founder | Gyanesh Chaudhary |
| Year Founded | 2006 |
| Location | Kolkata, West Bengal |
| Products | PV modules, EPC services |
| Market | Residential, commercial, industrial |
| Revenue | Approx. $600 million (2023) |
4. Waaree Energies
Waaree Energies, established in 1989, is one of India’s largest vertically integrated solar energy solutions companies. It offers solar modules, EPC services, project development, and rooftop solutions. Waaree has a state-of-the-art manufacturing facility in Gujarat.
| Attribute | Details |
|---|---|
| Founder | Hitesh Doshi |
| Year Founded | 1989 |
| Location | Mumbai, Maharashtra |
| Products | Solar modules, EPC services |
| Market | Residential, commercial, industrial |
| Revenue | Approx. $700 million (2023) |
5. Renew Power
ReNew Power is India’s leading renewable energy company, focusing on large-scale solar and wind power projects. Since its inception in 2011, the company has rapidly expanded its renewable energy capacity and has made significant contributions to reducing India’s carbon footprint.
| Attribute | Details |
|---|---|
| Founder | Sumant Sinha |
| Year Founded | 2011 |
| Location | Gurugram, Haryana |
| Products | Solar and wind power projects |
| Market | Utility-scale |
| Revenue | Approx. $900 million (2023) |
6. Azure Power
Azure Power is a prominent independent solar power producer in India, known for its innovative solar projects and sustainable energy solutions. Founded in 2008, Azure Power develops, constructs, and operates utility-scale and rooftop solar projects across the country.
| Attribute | Details |
|---|---|
| Founder | Inderpreet Wadhwa |
| Year Founded | 2008 |
| Location | New Delhi |
| Products | Utility-scale, rooftop solar projects |
| Market | Utility-scale, commercial |
| Revenue | Approx. $500 million (2023) |
7. Sterling and Wilson Solar
Sterling and Wilson Solar is one of the largest solar EPC solutions providers globally. The company offers end-to-end solar EPC solutions, including design, procurement, construction, and project management services. It operates in over 25 countries.
| Attribute | Details |
|---|---|
| Founder | Daruvala and Mistry families |
| Year Founded | 2011 |
| Location | Mumbai, Maharashtra |
| Products | Solar EPC solutions |
| Market | Utility-scale, commercial |
| Revenue | Approx. $1.2 billion (2023) |
8. Jakson Group
Jakson Group, founded in 1947, is a diversified energy and infrastructure company with a strong presence in the solar energy sector. It offers solar modules, PV plants, and EPC services, focusing on innovation and sustainability.
| Attribute | Details |
|---|---|
| Founder | Jakson family |
| Year Founded | 1947 |
| Location | Noida, Uttar Pradesh |
| Products | Solar modules, EPC services |
| Market | Residential, commercial, industrial |
| Revenue | Approx. $400 million (2023) |
9. Mahindra Susten
Mahindra Susten is a leading player in the renewable energy sector, providing turnkey solar EPC services, solar PV operation, and maintenance services. A part of the Mahindra Group, the company is committed to delivering sustainable solar solutions.
| Attribute | Details |
|---|---|
| Founder | Mahindra Group |
| Year Founded | 2010 |
| Location | Mumbai, Maharashtra |
| Products | Solar EPC, O&M services |
| Market | Utility-scale, commercial |
| Revenue | Approx. $500 million (2023) |
10. Luminous Power Technologies
Luminous Power Technologies, a subsidiary of Schneider Electric, offers innovative solar products and solutions, including solar inverters, batteries, and panels. The company aims to make solar energy accessible to all and contribute to a sustainable future.
| Attribute | Details |
|---|---|
| Founder | Rakesh Malhotra |
| Year Founded | 1988 |
| Location | New Delhi |
| Products | Solar inverters, batteries, panels |
| Market | Residential, commercial, industrial |
| Revenue | Approx. $300 million (2023) |
FAQs on Top 10 Solar Companies in India:
Which is the No. 1 solar company in India?
Tata Power Solar Systems Ltd is widely regarded as the No. 1 solar company in India. It is a pioneer in the field and has an extensive portfolio of projects and a strong presence in the solar industry.
What are the top 5 solar stocks to invest in India?
The top 5 solar stocks to invest in India include:
- Tata Power: Known for its extensive solar projects and innovative solutions.
- Adani Green Energy: A major player in renewable energy with a large portfolio of solar projects.
- Renew Power: One of the leading renewable energy companies in India.
- Websol Energy Systems: A manufacturer of solar photovoltaic cells and modules.
- Indosolar: A key player in the manufacturing of solar photovoltaic cells.
Who are the top 10 solar panel manufacturers in the world?
The top 10 solar panel manufacturers in the world are:
- LONGi Solar
- JinkoSolar
- JA Solar
- Trina Solar
- Canadian Solar
- First Solar
- Hanwha Q CELLS
- Risen Energy
- GCL-SI
- SunPower
What is the rank of solar in India?
India is currently ranked 5th in the world for installed solar capacity, according to recent global solar energy reports.
Top Solar Companies in India Listed in the Stock Market
- Tata Power
- Adani Green Energy
- Websol Energy Systems
- Indosolar
- Ujaas Energy
Top 20 Solar Companies in India
- Tata Power Solar Systems Ltd
- Adani Solar
- Vikram Solar
- Waaree Energies Ltd
- Renew Power
- Azure Power
- Suzlon Energy Limited
- Emmvee Photovoltaic Power Pvt Ltd
- Loom Solar Pvt Ltd
- Jakson Group
- Sterling and Wilson Solar Ltd
- Amplus Solar
- Hero Future Energies
- Rays Power Infra
- Mahindra Susten
- Tata Cleantech Capital Limited
- Fourth Partner Energy
- Avaada Energy Pvt Ltd
- Lanco Solar
- Photon Energy Systems Ltd
Top 10 Solar Panel Company in India Share Price
- Tata Power
- Adani Green Energy
- Websol Energy Systems
- Indosolar
- Ujaas Energy
- Moser Baer Solar Limited (company undergoing liquidation)
- Swelect Energy Systems
- BHEL (Bharat Heavy Electricals Limited)
- Suzlon Energy
- Sterling and Wilson Solar Ltd
Tata Power Solar
Tata Power Solar Systems Ltd is a leading solar power company in India, known for its comprehensive solar solutions, including manufacturing solar modules, cells, and providing EPC services for large-scale solar projects.
Top 10 Solar Panel Company in the World
- LONGi Solar
- JinkoSolar
- JA Solar
- Trina Solar
- Canadian Solar
- First Solar
- Hanwha Q CELLS
- Risen Energy
- GCL-SI
- SunPower
Top 10 Solar Companies in India 2021
- Tata Power Solar Systems Ltd
- Adani Solar
- Vikram Solar
- Waaree Energies Ltd
- Renew Power
- Azure Power
- Suzlon Energy Limited
- Emmvee Photovoltaic Power Pvt Ltd
- Loom Solar Pvt Ltd
- Jakson Group
Top 50 Solar Companies in India
This list includes all the companies mentioned above and extends to many more that are contributing significantly to India’s solar industry. Some additional names are:
- Tata Cleantech Capital Limited
- Fourth Partner Energy
- Avaada Energy Pvt Ltd
- Lanco Solar
- Photon Energy Systems Ltd
- Surana Solar Limited
- EMMVEE Solar Systems
- Kotak Urja Pvt Ltd
- Goldi Solar Pvt Ltd
- XL Energy Limited
Best Solar Panel Company in India for Home
Loom Solar Pvt Ltd is often recommended for home solar installations due to its innovative products tailored for residential use, ease of installation, and excellent customer service.
These lists provide a comprehensive view of the major players in the Indian and global solar industry, reflecting the dynamic and rapidly evolving landscape of renewable energy.
Conclusion:
India’s solar energy sector is experiencing rapid growth, driven by increasing demand for clean and sustainable energy solutions. The top 10 solar companies in India have been instrumental in this transformation, each contributing significantly to the nation’s renewable energy targets. These companies are recognized for their technological innovations, large-scale solar projects, and comprehensive service offerings that span from manufacturing solar panels to providing end-to-end solar solutions.
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