Solarium

What Solarium does

Solarium Green Energy is an India-based integrated solar solutions company headquartered in Ahmedabad, Gujarat. Founded in 2018 by IIT/ISM Dhanbad alumnus Ankit Garg, the company manufactures solar PV modules and provides turnkey engineering, procurement, and construction (EPC) services across residential, commercial and industrial (C&I), and government segments. As of FY25, Solarium reported consolidated revenue of Rs 230.08 crore, up 29.7% year-over-year from Rs 177.81 crore in FY24, with net profit of Rs 15.89 crore (18.1% YoY growth). The company is listed on the BSE SME platform (BOM:544354) following its September 2024 DRHP filing for an SME IPO of up to 55 lakh equity shares.

The company's technology stack centers on high-efficiency crystalline silicon solar PV modules, including large-format G12 modules up to 725 Wp built using TOPCon cell, bifacial, and half-cut cell technologies. In March 2026, Solarium commissioned a 1 GW solar module manufacturing facility in Ahmedabad with a Rs 90 crore capex investment, marking its transition into backward vertical integration. Solarium holds BIS and ISO certifications and serves customers through a hybrid distribution model: direct sales for residential and C&I projects, government tender bidding, a 400+ partner Saarthi channel network spanning 80+ cities, and B2B module sales to other EPC players. Notable customers include MAHAGENCO (Rs 186.53 crore EPC contract for a 50 MW AC/65 MW DC solar project in Maharashtra), Simpolo Ceramics (3.6 MW ground mount), Ahmedabad University (375 kW rooftop), and Nissan Syntex. The company has solarized 18,000+ residential homes and completed 8,506 residential, 152 C&I, and 8 government projects cumulatively through FY24.

Solarium's revenue mix is hardware-led (EPC and module sales) supplemented by recurring 3-year O&M contracts and commissions through the Saarthi channel. Go-to-market combines direct-to-consumer residential funnels (leveraging the PM Surya Ghar Yojana government subsidy portal), enterprise field sales for C&I and government tenders, and channel-partner-led SMB distribution. The company operates an active regulatory and compliance posture, including SEBI LODR monitoring filings post-listing and integrations with regional DISCOMs (PuVVNL, NPCL, PVVNL) and UPNEDA for net metering.

Name

Solarium

Legal name

Solarium Green Energy Ltd

Website

https://solariumenergy.in

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

251–500 employees

Short description

Solarium Green Energy is an Ahmedabad-based integrated solar company that manufactures high-efficiency PV modules and delivers turnkey EPC services for residential, commercial and industrial, and government customers across 80+ Indian cities.

Ownership category

akta.pro rank

Product category

Solar Energy Solutions

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

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 PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Solar Balance-of-System Components (Cables, Combiner Boxes, Switchgear, Transformers) (EUAMABAG), Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)

Keywords

• Rooftop solar installations
• Solar EPC services
• Solar PV modules
• Commercial solar systems
• Residential solar solutions

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. EPC Contracts: Engineering, Procurement, and Construction (EPC) contracts for solar projects including turnkey solutions, design, procurement, installation, commissioning, and 3-year O&M services. Major contracts include Rs 186.53 crore 50 MW AC/65 MW DC solar project in Maharashtra.
2. Solar Module Manufacturing & Sales: Manufacturing and selling solar PV modules including high-efficiency bifacial panels with 12-year warranty. The 1 GW facility produces G12 modules up to 725 Wp serving both internal EPC requirements and external B2B customers.
3. Solar Panel Supply Orders: Supply of solar panels including high-efficiency bifacial modules to customers across southern India, with deliveries scheduled by mid-May 2026. Orders include 12-year warranty.
4. Operation & Maintenance Services: Post-commissioning O&M services typically offered as 3-year contracts with solar installations, including monitoring and maintenance support
5. Channel Partner Program Revenue: Revenue generated through Solarium Channel Partner (Saarthi) network who sell and install solar solutions, with partners earning commissions on completed projects

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

Solarium Green Energy manufactures high-efficiency solar PV modules (including G12 modules up to 725 Wp using TOPCon, bifacial, and half-cut cell technologies) at its 1 GW Ahmedabad facility, and delivers turnkey solar EPC solutions covering design, procurement, construction, and post-commissioning O&M for residential, commercial & industrial, and government customers across India. The company also sells manufactured modules to external B2B customers through its Saarthi channel partner network.

Product overview

Solarium Green Energy is an integrated solar solutions provider offering a comprehensive portfolio of solar products and services. The core offering consists of three main product lines: Solar for Home (residential rooftop installations), Solar for Business/C&I (commercial and industrial solar systems), and Government Projects (public infrastructure solar). The company operates as a turnkey EPC (Engineering, Procurement, Construction) provider, delivering end-to-end services from system design through installation to ongoing operation and maintenance. As part of its backward integration strategy, Solarium manufactures high-efficiency solar PV modules including G12 modules up to 725W using TOPCon, bifacial, and half-cut cell technologies at its 1 GW facility in Ahmedabad. The product ecosystem also includes inverters and ABT meters as sub-products. Additionally, the Saarthi Channel Partner Program enables micro-entrepreneurs to join the solar revolution as certified partners. All offerings are supported by government subsidy processing through PM Surya Ghar Yojana and net metering integration with regional DISCOMs.

Differentiator

Problem solved

Functional benefit

Brands

• Saarthi Program: Channel Partner Program designed to guide, support, and lead micro-entrepreneurs toward success in solar business. Provides branded 'Solarium Channel Partner' identity with end-to-end Integrated Solar Solutions provider status, along with training, certifications, and rewards.

Products and services

• Solar for Home Tailored rooftop solar installations for homes and apartments, ensuring energy efficiency and cost savings for homeowners. Includes end-to-end services from system design to ongoing customer support, with government subsidy assistance through PM Surya Ghar Yojana.
• Solar for Business (C&I) Custom rooftop and ground-mounted solar systems for businesses, industries, and non-profit organizations that reduce energy costs and promote sustainability. Covers commercial and industrial installations with comprehensive EPC services.
• Government Projects Ground mount and rooftop solar installations for public infrastructure, contributing to national energy goals. Includes projects for government buildings and public sector undertakings such as MAHAGENCO.
• Solar PV Modules High-efficiency crystalline silicon solar PV modules manufactured in-house, including large-format G12 modules up to 725 Wp using TOPCon, bifacial, and half-cut cell technologies. Available for both internal use in EPC projects and external sales to other EPC players and B2B customers.
• Operation & Maintenance (O&M) Services Comprehensive post-commissioning operation and maintenance services for solar installations, typically offered as 3-year contracts. Includes monitoring, maintenance, and performance optimization for solar PV systems.
• Saarthi Channel Partner Program Partnership program for micro-entrepreneurs to become solar solution providers. Channel partners gain access to solar technology, expert support, training, certifications, and earn potential income up to Rs 75k/month, enabling grassroots-level solar operations across India through 400+ partners in 80+ cities.

Quantifiable outcome

• Reduce electricity bills by up to 90%
• +3 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• MAHAGENCO (Maharashtra State Power Generation Company)coreOthers · 22 June 2026Solarium received Letter of Award dated 22 June 2026 as sub-contractor for end-to-end EPC works on 50 MW AC/65 MW DC solar PV power project under MAHAGENCO program. Contract value approximately Rs 186.525 crore with 3-year O&M services included.
• PM Surya Ghar Yojana (Government of India)coreStrategic or Co-development PartnerSolarium leverages government subsidy scheme for residential rooftop solar, handling entire application process through the government-approved PM Surya Ghar Yojana portal. Subsidies up to Rs 78,000 for residential installations.
• UPNEDA (Uttar Pradesh New and Renewable Energy Development Agency)minorStrategic or Co-development PartnerSolarium facilitates net metering and government subsidy applications in Uttar Pradesh through UPNEDA under UP Rooftop Solar Policy, enabling customers to export excess power to grid and earn credits.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Azure Power Global: Large-scale Indian solar IPP and EPC operator with utility-scale focus. Comparable to Solarium on the utility-scale project execution and government tender capability, though much larger and NYSE-listed.
• Sterling and Wilson Renewable Energy: Major Indian solar EPC contractor with global execution capability, part of Shapoorji Pallonji group. Comparable on large-scale EPC execution and government/utility contract track record.

Direct peers

• Jakson Group: Indian solar EPC and module manufacturer with pan-India presence across residential, commercial, and utility-scale projects. Comparable on integrated value chain and channel-driven distribution model.
• Loom Solar: India-focused solar module manufacturer and rooftop EPC player with strong D2C presence targeting residential and small C&I customers. Highly comparable to Solarium's residential rooftop and direct-to-consumer GTM.
• Fourth Partner Energy: India's leading C&I-focused solar EPC and distributed generation company with a large operating portfolio. Closely comparable on the C&I EPC and O&M annuity business model.
• Waaree Energies: India's largest solar PV module manufacturer (12+ GW capacity) and EPC provider, listed on NSE/BSE mainboard. Directly comparable to Solarium on both module manufacturing and EPC across residential, C&I, and utility-scale segments.
• Adani Solar: Vertically integrated solar PV manufacturer and EPC provider within the Adani Group, with multi-GW cell and module capacity. Closely comparable to Solarium across the full residential-to-utility-scale value chain.
• Vikram Solar: Listed Indian solar module manufacturer (G12/TOPCon technologies) and EPC contractor serving utility-scale and C&I customers. Direct peer on technology stack, customer segments, and listed-company profile.
• Tata Power Solar Systems: Subsidiary of Tata Power offering end-to-end solar EPC, modules, and O&M in India. Directly comparable on integrated residential, C&I, and utility-scale offerings and EPC execution capability.

Emerging players

• Sunsure Energy: Tech-enabled Indian solar EPC and open-access renewable energy provider focused on C&I customers. Comparable to Solarium on the C&I solar EPC motion and growing utility-scale ambitions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@solariumenergy/?sub_confirmation=1
• Facebookfacebook.com/solariumgreenenergy
• LinkedInlinkedin.com/company/13305475
• Instagraminstagram.com/solariumgreenenergy
• Xx.com/solarium_green

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 Solarium