Floatex Solar

What Floatex Solar does

Floatex Solar Pvt. Ltd. is an India-headquartered EPC and floating-infrastructure specialist focused exclusively on floating solar photovoltaic (FSPV) power plants. Incorporated in 2018 in Delhi with 51–100 employees, the company has commissioned 1 GW+ of FSPV capacity across 14+ utility and industrial projects and operates a 550 MW+ annual HDPE float and pontoon manufacturing line. Its core technical stack comprises two proprietary platform families — modular HDPE floating pontoons (food-grade, UV-resistant, 100% recyclable) and ferrocement barges for high-reliability electrical environments — supported by a patented mooring and anchoring system rated to 200 km/h wind speeds, plus wave attenuation systems, floating electrical utility barges, modular access walkways, and SCADA-integrated remote monitoring. The company positions itself as the only pure-play FSPV contractor at utility scale in India, with extensive execution references across India's largest state-owned utilities and a growing international presence in Southeast Asia (Malaysia, Philippines, Thailand, Vietnam) and the UAE.

Floatex earns revenue primarily through EPC contracts for end-to-end floating solar delivery — feasibility, engineering design, in-house float manufacturing, mooring, installation, electrical works, commissioning, and handover — with projects ranging from 1.5 MWp pilot industrial deployments to 219 MWp utility installations. Secondary revenue streams include standalone component sales (HDPE floats, ferrocement platforms, access pontoons) to other EPC contractors such as BHEL, L&T, Vikram Solar, and Sterling and Wilson, plus on-site project supervision and technical consulting. The go-to-market is enterprise field sales targeting Indian state and central utilities (NTPC, SECI, RUMSL), independent power producers (Tata Power, AMP Energy, Avaada), and industrial offtakers (GAIL, BPCL, ONGC, Dalmia Cement) — supplemented by international partnerships with Sarawak Energy, Trina Solar, and China Power International for flagship projects in Malaysia and a UAE regional office serving the Middle East.

Name

Floatex Solar

Legal name

Floatex Solar Pvt. Ltd.

Website

https://floatexsolar.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Floatex Solar Pvt. Ltd. is a Delhi-headquartered, pure-play floating solar PV EPC contractor that has commissioned 1 GW+ of FSPV capacity across 14+ utility and industrial projects in India and Southeast Asia, serving NTPC, SECI, Tata Power, AMP Energy, GAIL, and other central utilities and industrial offtakers with in-house HDPE pontoon and ferrocement platform manufacturing.

Ownership category

akta.pro rank

Product category

Floating Solar Infrastructure / FSPV EPC

NAICS

Solar Electric Power Generation (221114)

akta.pro primary industry

Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)

akta.pro secondary industries

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Solar Balance-of-Plant EPC (Piles/Foundations, Trenching, Combiner Networks) (EUAEADAJ), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)

Keywords

• Floating solar EPC
• HDPE pontoon manufacturing
• Ferrocement platforms
• Mooring anchoring systems
• Utility-scale FSPV

Headquarters

HQ city

Delhi

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Floating Solar EPC (Engineering, Procurement, Construction): End-to-end EPC contracts for floating solar power plant delivery. Covers site feasibility, engineering design, float manufacturing, installation, electrical works, commissioning, and handover. Revenue recognized across project lifecycle from mobilization through final handover. Primary revenue driver accounting for the majority of documented projects.
2. HDPE Float and Floating Pontoon Manufacturing: Manufacturing of HDPE floats, floating pontoons, and solar infrastructure systems at 550 MW+ annual production capacity. Component supply alongside EPC or as standalone product sales to other EPC contractors and project developers.
3. Ferrocement Platform Supply: Prefabricated ferrocement platforms manufactured at company facility and transported to site. Sold as structural components for floating solar installations requiring high electrical reliability. Material composition includes domestically sourced cement, sand, and wire mesh.
4. Access Systems and Walkway Pontoons: Modular access pontoon systems including array walkways, shore-based jetty platforms, inter-island linkage systems, and independent standways. Sold as standalone products or bundled with larger EPC contracts.
5. Project Supervision and Technical Consulting: On-site project supervision services supporting contractors during construction. Engineering team provides technical oversight ensuring adherence to design specifications throughout installation phases.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Floatex Solar designs, manufactures, and installs utility-scale floating solar power plants using HDPE pontoons and ferrocement platforms for reservoirs, dams, canals, mines, and industrial water bodies. The company offers end-to-end EPC services covering site feasibility, engineering design, in-house float/platform manufacturing, mooring and anchoring systems, electrical works, commissioning, and project supervision. It also sells HDPE floats and ferrocement platforms as standalone products to other EPC contractors.

Product overview

Floatex Solar offers a comprehensive portfolio of floating solar solutions centered on three core product lines: the Floating Solar System (HDPE pontoon-based floating PV platforms), Ferrocement Barge platforms for utility-scale electrical reliability, and Access Systems for maintenance walkways. These are supported by integrated engineering services including mooring and anchoring systems, wave attenuation systems, floating electrical utility barges, and full EPC project delivery. The company manufactures HDPE floats in-house at 550 MW+ annual production capacity, and provides real-time SCADA monitoring integration. Products are designed for 25+ year lifespans across reservoirs, dams, canals, mines, and industrial water bodies in India and Southeast Asia.

Differentiator

Problem solved

Functional benefit

Products and services

• Floating Solar System Complete floating solar power plant solutions based on HDPE floats and pontoons engineered for reservoirs, dams, canals, mines, and industrial water bodies. Includes site surveys, engineering design, mooring systems, and installation with 25+ year lifecycle performance.
• Ferrocement Barge Platform Corrosion-free ferrocement platforms engineered for utility-scale floating solar installations requiring high electrical reliability. Provides structural rigidity under point loads from heavy inverters and transformers, corrosion resistance without coatings, and superior lifecycle economics.
• Access Systems and Walkway Pontoons Modular access pontoons and walkways for floating solar arrays including array access walkways, shore-based jetty platforms, inter-island linkages, and independent standways enabling safe personnel movement without disrupting array structure.
• Mooring and Anchoring Systems Custom mooring and anchoring systems including dead-weight, screw, plate, and pile-based technologies designed to secure floating solar arrays against water-level variation, wind loads, and site-specific conditions. Patented system rated to 200 km/h wind speeds.
• Wave Attenuation Systems Peripheral breakwater and wave attenuation systems that reduce wave energy and protect floating solar arrays in large or exposed reservoirs, ensuring system stability and longevity.
• Floating Electrical Utility Barges Self-contained floating utility platforms and ferrocement barges designed to house inverters, switchgear, and monitoring systems for floating solar power plants.
• Full Floating Solar EPC Project Services End-to-end engineering, procurement, and construction execution for floating solar power plants covering site feasibility, engineering design, float manufacturing, installation, electrical works, commissioning, and operational handover.
• HDPE Floats (Standalone Component Supply) High-durability HDPE floats and floating solar pontoons engineered for long-term on-water performance. 100% recyclable, food-grade certified, and manufactured in-house at 550 MW+ annual production capacity. Sold as standalone components to other EPC contractors and project developers.

Quantifiable outcome

• 1 GW+ floating solar capacity commissioned across India
• +4 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, flagship and minor.

• Vikram SolarcoreChannel Partner/ Reseller/ DistributorVikram Solar served as EPC partner for the NTPC Kawas 34 MWp floating solar project in Gujarat. Floatex provided floating solar infrastructure (pontoons, anchoring) while Vikram Solar executed broader EPC scope.
• L&T (Larsen & Toubro)coreChannel Partner/ Reseller/ DistributorL&T served as EPC contractor for the NTPC Auraiya 28 MWp project and GAIL Pata project (through Purshotam Profiles). Floatex-supplied floating infrastructure integrated into L&T-executed projects.
• Sarawak Energy BerhadflagshipStrategic or Co-development PartnerSarawak Energy is the operator of the Batang Ai Hydroelectric Plant reservoir where Floatex contributed to Malaysia's first 50 MWp hybrid hydro-solar floating installation. Represents strategic expansion into Southeast Asian hydropower-floating solar hybrid projects.
• Trina SolarflagshipStrategic or Co-development PartnerTrina Solar provided PV modules for the 50 MWp Batang Ai floating solar project in Malaysia. Combined expertise in solar modules with Floatex's floating infrastructure for hybrid hydro-solar deployment.
• China Power InternationalflagshipStrategic or Co-development PartnerChina Power International development partner for the 50 MWp Batang Ai floating solar project in Malaysia. Represents international co-development capability for large-scale FPV projects.
• BHEL (Bharat Heavy Electricals Limited)coreChannel Partner/ Reseller/ DistributorBHEL served as EPC partner for the 130 MWp NTPC Ramagundam project — India's largest floating solar installation. Floatex provided ferrocement platforms and floating infrastructure.
• Sterling & WilsoncoreChannel Partner/ Reseller/ DistributorSterling & Wilson engaged as EPC contractor for the 219 MWp GVREL Tilaiya project in Jharkhand. Floatex-supplied floating solar infrastructure integrated into project execution.
• Ilios PowerminorChannel Partner/ Reseller/ DistributorIlios Power served as developer for the 10 MWp BPCL Kochi refinery floating solar project in Kerala.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Trina Solar: Global top-tier PV module manufacturer with vertical-integration moves into tracker and floating solar. A Floatex partner on the Malaysia 50 MWp Batang Ai project and a potential full-stack FSPV competitor in international markets.
• BHEL: India's largest power-equipment PSU EPC with extensive solar EPC and inverter capabilities. Floatex supplied platforms for BHEL's 130 MWp NTPC Ramagundam EPC — BHEL is both partner and a potential vertical integrator.
• Adani Solar: Adani Group's solar manufacturing and EPC arm — one of India's largest vertically integrated solar players with module, cell, and large-scale project execution capability. A broader Indian renewable incumbent with the balance sheet to enter FSPV at scale.
• Tata Power Solar Systems: Subsidiary of Tata Power, a major Indian solar EPC, module manufacturer, and IPP with utility-scale ground-mounted and rooftop offerings. A Floatex customer (RUMSL Omkareshwar 126 MWp) and broader solar competitor with deeper balance sheet and diversified renewable portfolio.
• Larsen & Toubro (L&T) Construction: India's largest engineering and construction conglomerate with a major solar EPC practice. A documented Floatex EPC partner (NTPC Auraiya 28 MWp) and the most credible threat to vertically integrate FSPV platform scope at scale.
• Sungrow FPV: Chinese global leader in solar inverters and energy storage with a dedicated floating PV product line. A broader renewable incumbent whose FPV business competes head-to-head with Floatex on large international projects.

Direct peers

• Ciel & Terre: French-headquartered global leader in floating solar PV pontoons with hundreds of MW deployed worldwide. The most direct comparable to Floatex as a pure-play FSPV platform and EPC specialist, though larger and more geographically diversified.
• Sterling & Wilson Solar: One of India's largest solar EPCs and a documented Floatex EPC partner (219 MWp GVREL Tilaiya). Comparable as a large Indian solar EPC competing in utility-scale ground-mounted and floating solar with similar customer set.
• Vikram Solar: Kolkata-headquartered module manufacturer and solar EPC with active floating solar projects (including the NTPC Kawas 34 MWp with Floatex). Directly comparable as an Indian solar EPC with overlapping FSPV capability and customer base.
• Swimsol: Austrian/Dutch marine-grade floating solar specialist focused on offshore and high-wave environments. Comparable to Floatex as a specialist FSPV technology company, but with a stronger offshore/lake niche rather than Indian reservoir utility-scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/floatex-solar

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Floatex Solar