The world is quickly moving toward renewable energy, and in the last few years, so many solar startups have been introduced in India to reduce the use of natural sources. Some are the best startups in solar engineering in India that provide end-to-end solutions in the market and individuals in India.
Not only are they working towards scaling renewable energy sources but reducing the natural resources and their impact on the environment. The government of India has already come out with the ambition as the companies like SJVN and Tata Power have invested 50,000 and 945 crores, respectively. This collaborative approach is to scale innovative solar energy solutions.
Here is a comprehensive list of the best startups in solar engineering in India, helping the country with energy resources.
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Gurgram based solar energy startup, ReNew Power was founded in 2015 by Sumant Sinha. He is a former investment banker and built one of the best startups in solar engineering in India that provides solar and wind solutions to boost the adoption of clean energy.
The company has already distributed more than 200 solar projects across 35 cities and 16 states in India. The company has raised $300 million (around Rs 2,050 crores) through rights issues from Goldman Sachs.
Founded in 2011 by Gajanan Nabar, CleanMax Solar builds rooftops solar panels and open access solar panels for commercial and industrial segments. Working with some notable clients, including Adobe India, Volvo India, Tata Motors, United Breweries, ACC, Mahindra Group, SKF, etc, this solar energy company is considered one of the best startups in solar engineering in India.
If we talk about its financial background, the startup raised Rs 275 crore from Macquire-managed UK Climate investment to expand its startup in the energy sector. Considering its investment, it would be called one of the best startups in solar engineering in India.
Fourth Partner Energy
This solar energy startup is based in Hyderabad and was founded by Saif Dorajiwala, Vikas Saluguto and Vivek Subramanian in 2020. It provides solutions like turnkey rooftops to its customers and helps them to reduce energy costs and provide sustainable energy resources.
What made Fourth Partner Energy placed on the list of the best startups in solar engineering in India is its robust solutions and services. The company has secured Rs. 356.5 crore worth of Line of Credit from Bank of America. In 2018, the company raised $ 70 million in Series B round funding.
When we talk about solar energy ideas, Orb Energy has to be counted on the list of solar startup companies in India. Founded in 2006 by Damian Miller and NP Ramesh, Orb Energy aims to provide affordable off-grid and grid-tied solar rooftop solutions to customers.
Small and medium enterprises, along with low-income individuals, take help from Orb Energy to reduce their electricity bills. The company is one of the best startups in solar engineering in India, known for its high-quality solar energy systems and after scale services.
Hyderabad-based startup in the energy sector, Cygni provides novel solar DC solutions to reduce energy costs. This startup has powered more than 20,00- homes across 10 states in India. The startup raised $6.4 million in mixed funding of equity and debt in 2015. It was led by venture capital firm Endiya Partners and the debt funding was led by Induslnd Bank.
The company aims to provide sustainable energy solutions and is known as one of the best startups in solar engineering in India. Cygni Energy is on the way to expanding its operations across the world.
Being one of the fastest developing countries, India has started investing in solar energy due to the rising concern of climate change and increasing electricity prices. These solar startup companies in India run the most extensive renewable energy development programs and help industries and individuals with affordable energy sources. Plus, these startups have opened lots of opportunities for the growth of the country, economically and the development of electricity sources as well.