Navitas Solar

What Navitas Solar does

Navitas Solar Private Limited is an India-based, Surat-headquartered solar photovoltaic module manufacturer founded in 2013 by Vineet Mittal, Sunay Shah, Ankit Singhania, Aditya Singhania, and Saurabh Aggarwal. The company operates a 3 GW per annum module manufacturing line producing N-Type TOPCon half-cut bifacial modules, Mono PERC bifacial and half-cut modules, and multi-crystalline modules ranging from 40W to 720W per panel. Its product portfolio is held under four sub-brands (N-Type TOPCon Series, Bifacial Series, Bonito Series, Anora Series) and is certified under ALMM, MNRE, IEC, ERDA, and ISO 9001, qualifying its modules for India's domestic-content-restricted solar tenders.

The business operates a vertically integrated model spanning backward integration into encapsulant manufacturing through wholly-owned subsidiary Navitas Alpha Renewables Pvt. Ltd., forward integration into EPC services through Navitas Planet, and a partnership with Renon India for battery energy storage. A 3.6 GW solar cell manufacturing facility with a pilot wafer and ingot line is in development at Ankleshwar, Gujarat, supported by an INR 1,500 crore (approximately USD 181 million) capital commitment with Phase I targeted for commissioning in 2027.

Revenue is generated through four streams: hardware sales of solar modules, professional services via EPC contracts, recurring-revenue solar RESCO arrangements, and encapsulant sales. The go-to-market combines direct enterprise field sales to C&I clients, EPC companies, and IPP/utility developers with a domestic dealer/distributor network and export channels into the US, EU, and Africa. Pricing is quote-based and not publicly disclosed, with module pricing dependent on technology mix, efficiency rating, and order volume.

Name

Navitas Solar

Legal name

Navitas Solar Private Limited

Website

https://navitassolar.in

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

251–500 employees

Short description

Navitas Solar is an India-based solar PV module manufacturer operating 3 GW of annual capacity across TOPCon, Mono PERC, and multi-crystalline lines, serving C&I clients, EPC firms, utilities, and residential customers in India, the US, EU, and Africa.

Ownership category

akta.pro rank

Product category

Solar Photovoltaic Module Manufacturing

akta.pro primary industry

Solar PV Module & Cell Manufacturing (Crystalline, Thin-Film) (EUAMAHAA)

akta.pro secondary industries

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Solar Plant Components Supply & Manufacturing (Modules, Cells, Wafers, Mirrors, Heliostats) (EUACAGAK)

Keywords

• Solar panel manufacturing
• Photovoltaic modules
• Epc solar services
• Solar encapsulants
• Renewable energy solutions

Headquarters

HQ city

Surat

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Solar Module Sales: Sale of high-efficiency solar modules including N-Type TOPCon, Mono PERC, and Multi-crystalline panels ranging from 40W to 720W for residential, commercial, industrial, and utility-scale applications.
2. EPC Services: Engineering, Procurement, and Construction services provided through Navitas Planet subsidiary for solar project installation and deployment.
3. Solar Encapsulants: Sale of solar encapsulant materials manufactured by subsidiary Navitas Alpha Renewables Pvt. Ltd. for backward integration and component supply.
4. Solar RESCO: Renewable Energy Service Company model for solar energy generation and distribution, enabling customers to adopt solar without upfront capital investment.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Navitas Solar manufactures high-efficiency photovoltaic solar modules (40W–720W) using Mono PERC and N-Type TOPCon cell technologies at its 3 GW Surat facility, and sells them to commercial, industrial, utility, and EPC customers. Through its subsidiaries Navitas Alpha Renewables and Navitas Planet, it also supplies solar encapsulants and EPC turnkey project services, completing a backward- and forward-integrated solar value chain.

Product overview

Navitas Solar offers a comprehensive integrated solar solutions portfolio centered on high-efficiency solar module manufacturing. The core product line consists of four distinct solar module series: N-Type TOPCon Series (advanced bifacial modules), Bifacial Series (Mono PERC half cut bifacial), Bonito Series (Mono PERC half cut), and Anora Series (Multi Crystalline), ranging from 40 watts to 720 watts per panel with a total manufacturing capacity of 3 GW per annum. The company provides complete solar solutions through forward integration via its EPC arm Navitas Planet and backward integration through Navitas Alpha Renewables Pvt. Ltd., which manufactures encapsulants. Additional offerings include Solar RESCO services, and upcoming solar cell manufacturing with pilot wafer and ingot production. Energy storage solutions are available through the Renon India partnership.

Differentiator

Problem solved

Functional benefit

Brands

• N-Type TOPCon Series: High-efficiency N-Type TOPCon half cut bifacial solar modules
• Bifacial Series
• Bonito Series
• Anora Series

Products and services

• N-Type TOPCon Series (Half Cut Bifacial Modules) High-efficiency N-Type TOPCon half-cut bifacial solar modules that harvest light from both sides to deliver superior energy yield, targeted at commercial, industrial, and utility-scale solar installations.
• Bifacial Series (Mono PERC Half Cut Bifacial Modules) Mono PERC half-cut bifacial solar modules that capture sunlight from both sides to maximize energy generation for commercial, industrial, and utility customers.
• Bonito Series (Mono PERC Half Cut Modules) Mono PERC half-cut solar modules with power output ranging from 40W to 720W per panel, designed for residential and commercial rooftop installations.
• Anora Series (Multi Crystalline Modules) Multi-crystalline silicon solar modules providing a cost-effective solar energy option for various residential, commercial, and industrial applications.
• EPC Services End-to-end Engineering, Procurement, and Construction services for solar project installation, delivered through Navitas Planet, covering site engineering, procurement of balance-of-system components, and construction management for commercial, industrial, and utility-scale projects.
• Solar Encapsulants Solar cell encapsulant (EVA-type) materials manufactured by subsidiary Navitas Alpha Renewables Pvt. Ltd., used for encapsulating solar cells within modules; supplied internally and externally as part of backward-integration strategy.
• Solar RESCO Solar energy-as-a-service offering under a Renewable Energy Service Company (RESCO) model, allowing customers to adopt solar without upfront capital investment via performance-based, recurring contracts.
• Energy Storage Solutions Battery-based energy storage solutions offered through Renon India partnership to provide 24/7 renewable power availability alongside Navitas Solar's PV modules.

Quantifiable outcome

• Reduction of import dependence from 75-80% to approximately 20% upon completion of 3.6 GW solar cell facility
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Navitas Alpha Renewables Pvt. Ltd.coreStrategic or Co-development PartnerSubsidiary company manufacturing Solar Encapsulants for backward integration, ensuring quality control across the solar manufacturing value chain.
• Navitas PlanetcoreStrategic or Co-development PartnerEPC (Engineering, Procurement, and Construction) arm providing forward integration services, delivering end-to-end renewable solutions from manufacturing to installation.
• Renon IndiaminorStrategic or Co-development PartnerPartner company for Energy Storage solutions, expanding product portfolio to offer comprehensive renewable energy solutions including battery storage.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Waaree Energies: India's largest solar PV module manufacturer with mono PERC and TOPCon product lines and global exports; the most directly comparable competitor to Navitas Solar across product range, technology stack, and Indian C&I-plus-utility customer base.
• Vikram Solar: Indian crystalline silicon PV module manufacturer with TOPCon and PERC technology, exports to multiple geographies, and EPC capabilities — a close like-for-like competitor to Navitas in product, scale, and go-to-market.
• Goldi Solar: Surat-based Indian PV module manufacturer producing high-efficiency mono PERC and TOPCon modules; comparable geography, technology portfolio, and customer mix to Navitas Solar.
• Premier Energies: Indian manufacturer of solar PV cells and modules (Mono PERC, TOPCon) with backward-integration strategy very similar to Navitas's planned cell capacity build-out; direct overlap in product roadmap and customer base.
• Emmvee Solar: Indian PV module manufacturer producing bifacial TOPCon and PERC modules for rooftop and utility-scale applications; comparable product line-up, ALMM-aligned presence, and export aspirations.
• RenewSys India: Indian manufacturer of solar PV modules plus encapsulants and backsheets; the encapsulant overlap makes it a particularly close comparison to Navitas Alpha Renewables' backward-integration play.

Broad incumbents

• Adani Solar (Adani Group): Vertically integrated Indian solar module and cell manufacturer backed by a large conglomerate with global manufacturing scale; competes with Navitas across modules, EPC, and utility-scale projects, with deeper balance-sheet capacity.
• Tata Power Solar Systems: Subsidiary of Tata Power manufacturing solar PV modules and offering EPC + rooftop solutions in India; comparable business model spanning module manufacturing and project execution, with established enterprise and utility relationships.
• Jakson Group (Jakson Solar): Indian solar EPC and module manufacturer with utility-scale project execution; comparable business model combining module manufacturing with EPC services, serving both C&I and utility customers.

Emerging players

• Loom Solar: Indian D2C-focused solar module manufacturer with mono PERC and TOPCon panels for residential and small-commercial segments; comparable technology but smaller scale and a more channel-led, retail-oriented model vs. Navitas's enterprise focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights6 records

Customer concentration

• Xx.com/navitas_solar
• YouTubeyoutube.com/@navitassolar
• Facebookfacebook.com/navitassolar
• LinkedInlinkedin.com/company/navitassolar

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Navitas Solar