Axis Energy

What Axis Energy does

Axis Energy is a Hyderabad-headquartered Indian renewable energy developer founded in 2010 that builds, owns, and operates utility-scale wind, solar, and wind-solar hybrid power projects. The company serves central and state government agencies, state-owned utilities such as NTPC, NHPC, and GRIDCO, and large industrial customers across India, with a commissioned portfolio of approximately 1.5 GW and a development pipeline of more than 8 GW. Its offerings span project development, EPC services, and long-term operations and maintenance contracts, structured around long-duration power purchase agreements with state utilities.

The company's technical foundation is a proprietary wind resource assessment capability built on a network of more than 150 meteorological masts across India, which feeds site selection, yield forecasting, and project design for wind and hybrid parks. Axis Energy has also moved into Underground Coal Gasification through auction wins at the Belpahar and Tangardih East coal blocks, creating a non-renewable adjacent vertical. A 2026 MoU with the Government of Andhra Pradesh at the World Economic Forum in Davos extends the scope to green hydrogen and data-center power supply, indicating a broadening technology surface beyond pure wind-solar generation.

The business model combines recurring PPA-based power sales revenue from commissioned assets, one-time EPC margins during project construction, and ongoing O&M service fees. Axis Energy has anchored its growth capital with a strategic partnership with Brookfield Asset Management, including a USD 845 million equity commitment through the Evren joint venture platform established in 2023 (preceded by the ABC Cleantech JV in 2021), supplemented by approximately USD 600 million in project-level debt from six global lenders for a 1.04 GW hybrid project. Forward visibility is supported by MoUs with Andhra Pradesh, Odisha (5 GW GRIDCO agreement valued at approximately USD 5.26 billion), and Telangana.

Name

Axis Energy

Legal name

Axis Energy Ventures India Private Limited

Website

https://axisenergy.in

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Axis Energy is a Hyderabad-based Indian renewable energy developer building utility-scale wind, solar, and hybrid power parks for central and state government utilities and large industrial customers, with 1.5 GW commissioned and 8+ GW in development.

Ownership category

akta.pro rank

Product category

Renewable Energy Project Development

NAICS

Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Electric Power Generation (22111)

akta.pro primary industry

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)

akta.pro secondary industries

Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI), Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Wind Farm EPC & Balance of Plant Construction (Civil, Electrical, Substations) (EUAMACAF), Transmission Interconnection & Line Works (Gen-Tie Lines, Overhead/Underground Lines) (EUAMAFAF)

Keywords

• Renewable energy development
• Utility-scale solar projects
• Utility-scale wind projects
• EPC services
• Operations and maintenance

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Renewable Energy Project Development: Developing and commissioning utility-scale wind, solar, and hybrid renewable energy projects for sale or long-term operation, generating revenue through power purchase agreements (PPAs) with utilities and state governments.
2. EPC Services: Engineering, procurement, and construction services for third-party renewable energy developers and joint venture platforms, delivering projects on a fixed-price or cost-plus basis.
3. Operations and Maintenance: Managing and maintaining renewable energy infrastructure including pooling substations and evacuation systems, providing remote monitoring, performance analysis, and preventive maintenance services.
4. Coal Mining and UCG: Developing underground coal gasification projects to convert deep coal into syngas for power generation, ammonia production, and industrial feedstock, diversifying fuel sources and enhancing energy security.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Axis Energy develops utility-scale wind, solar, and wind-solar hybrid (FDRE) renewable energy projects in India, supported by in-house EPC execution capabilities and long-term operations and maintenance services. The company also holds coal blocks in Odisha to deploy proprietary underground coal gasification (UCG) technology for syngas production. Projects are delivered either directly or through its 51:49 joint venture platforms (ABC Cleantech/Evren) with Brookfield Asset Management.

Product overview

Axis Energy operates as a renewable energy project developer offering a comprehensive portfolio of energy solutions. The core offerings include Wind Parks and Solar Parks for standalone renewable energy generation, Wind-Solar Hybrid Parks that combine wind and solar with battery energy storage systems (BESS) and pumped hydro for reliable Firm and Dispatchable Renewable Energy (FDRE), EPC Services for end-to-end project execution, and Operations and Maintenance services for ongoing asset management. The company also has an emerging focus on Underground Coal Gasification (UCG) technology for converting deep coal reserves into synthesis gas. Projects are being developed through the company's own platform as well as through its joint venture platforms (ABC Cleantech/Evren with Brookfield).

Differentiator

Problem solved

Functional benefit

Products and services

• Wind Parks Utility-scale wind energy project development for state utilities, central PSUs and industrial offtakers. Axis Energy has installed over 150 met masts for wind data collection, has commissioned over 1 GW of wind projects since 2017, and is implementing 3.79 GW through 2029.
• Solar Parks Large-scale solar project development on government land parcels near CTU/STU substations, for sale or long-term operation under PPAs with state utilities and central PSUs. Over 1 GWp of solar projects implemented across India with more than 5 GW under implementation.
• Wind-Solar Hybrid Parks (FDRE) Integrated wind and solar projects combined with battery energy storage systems (BESS) and pumped hydro to deliver Firm and Dispatchable Renewable Energy (FDRE), including round-the-clock and peak power supply. Currently implementing 700 MW of FDRE projects comprising 1140.5 MW wind, 735 MW solar and 475 MWh of storage.
• EPC Services End-to-end Engineering, Procurement and Construction services for wind, solar and hybrid projects on fixed-price or cost-plus basis, delivered to third-party developers, the Evren JV platform and own projects. Currently executing EPC orders for 1140 MW of wind projects with 2650 MW in advanced finalization.
• Operations and Maintenance Services O&M services for large-scale renewable energy infrastructure including remote monitoring, performance analysis and preventive maintenance. Manages two 220 kV pooling substations and 33-kV internal evacuation systems for a 210 MW wind farm since 2018, ensuring reliable power flow and optimized asset performance.
• Underground Coal Gasification (UCG) Projects

Quantifiable outcome

• 1.5 GW of renewable energy projects commissioned
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• Suzlon EnergycoreStrategic or Co-development PartnerStrategic alliance established in 2015 with tripartite agreement between Axis Energy, Suzlon, and Government of Andhra Pradesh for development of 4,000 MW of renewable energy projects in the state. Suzlon provides wind turbine technology and execution capabilities while Axis Energy handles project development and government coordination.
• GRIDCO Ltd (Odisha)coreStrategic or Co-development PartnerMoU signed with GRIDCO Ltd to develop up to 5GW of renewable energy capacity in Odisha valued at INR 477.5 billion (US$5.26 billion). The agreement forms part of Odisha's goal to reach 10.96GW of installed renewable capacity by 2030 and is being delivered in partnership with Evren, Brookfield-backed India focused renewable energy platform.
• ABC Cleantech Pvt Ltd (Evren)coreStrategic or Co-development PartnerEvren is a joint venture platform established in 2023 with Brookfield and Axis Energy maintaining 51:49 shareholding pattern. Under the Evren platform, partners aim to develop over 5 GW of wind and solar projects across India, backed by total development pipeline of 4.62 GW and USD 845 million committed capital from Brookfield. Evren has signed 300 MW PPA with NTPC for firm and dispatchable renewable energy supply.
• Government of Andhra PradeshcoreStrategic or Co-development PartnerAndhra Pradesh government, through NREDCAP, signed MoU with ABC Cleantech Pvt Ltd (Evren) and Axis Energy Ventures India Pvt Ltd to invest Rs 1,10,250 crore in renewable energy projects across the state. This includes 1 GW wind-solar hybrid project in Kurnool district and 400 MW BBB wind-solar hybrid project. REC also sanctioned ₹7,500 crore for the project.
• Government of Andhra PradeshcoreStrategic or Co-development PartnerAndhra Pradesh government reaffirmed strategic partnership with Brookfield Asset Management at World Economic Forum 2026 in Davos. The USD 12 billion MoU covers gigawatt-scale clean-energy data centers in Visakhapatnam, utility-scale solar and wind projects through Brookfield's Axis Energy platform, energy storage solutions, solar manufacturing, and green hydrogen pilots near port-led industrial clusters.

Scale indicators15 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• ReNew Power: One of India's largest renewable energy IPPs operating utility-scale wind, solar, and hybrid projects. Directly comparable as a domestic utility-scale renewable developer competing for the same state tenders and PPAs.
• Greenko Group: Leading Indian clean energy IPP focused on wind, solar, and pumped-storage hydro for round-the-clock renewable supply. Highly comparable to Axis's FDRE hybrid strategy and similar target of state utility + C&I PPA customers.
• Azure Power: Indian-based renewable energy IPP with utility-scale solar and wind projects across multiple states. Comparable in targeting state and central utility PPAs and operating as a project developer.
• Suzlon Energy: India's largest wind turbine OEM and EPC contractor, also a strategic partner of Axis Energy since 2015. Comparable as a wind EPC player with overlapping customer base in Indian utilities and IPPs.
• Mytrah Energy: Indian IPP specializing in wind and solar IPP projects across multiple states. Directly comparable as a domestic utility-scale renewables developer pursuing similar government MoU and tender strategy.

Broad incumbents

• Adani Green Energy: Largest Indian renewable energy IPP with significant wind, solar, and hybrid capacity and a much larger balance sheet. Overlaps with Axis across all generation technologies and competes for the same state-level utility tenders.
• NTPC Green Energy: Renewables arm of India's largest power generator NTPC; both an Axis customer (300 MW PPA) and a competitor for utility-scale RE tenders. Highly comparable business model of utility-scale IPP development.
• JSW Energy: Indian power company with growing wind, solar, and hydro portfolio; competes with Axis in greenfield utility-scale project auctions and increasingly in hybrid/FDRE space.
• Tata Power Renewables: Renewables arm of Tata Power, engaged in utility-scale wind, solar, and hybrid development across India. Overlaps with Axis's customer base (corporate and state offtakers) and EPC execution model.

Emerging players

• Vikram Solar: Indian solar EPC and module manufacturer with growing utility-scale project portfolio. Partially comparable as a domestic renewable energy developer and EPC contractor focused primarily on solar.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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• LinkedInlinkedin.com/company/axis-energy-ventures-india-pvt-ltd
• Instagraminstagram.com/axisenergygroup

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries2 records

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 Axis Energy