Rising Sun Energy
Rising Sun Energy is an India-based independent power producer operating a ~460 MWp portfolio of utility-scale solar PV projects in Rajasthan under 25-year fixed-tariff PPAs with NTPC Limited, and is a majority-owned subsidiary of Malaysian-listed Yinson Holdings Berhad.
- Company typePrivate
- Founded2014
- HeadquartersNew Delhi, India
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Rising Sun Energy does
Rising Sun Energy Pvt. Ltd. is an India-based independent power producer (IPP) that develops, owns, and operates utility-scale solar photovoltaic power plants. Founded in 2014 by Mr. Arunav Sharma, the company has built a portfolio of approximately 460 MWp across three grid-connected solar PV projects — Bhadla-1 (70 MW AC / 87.5 MWp DC), Bhadla-2 (70 MW AC / 87.5 MWp DC), and Nokh (190 MW AC / 285 MWp DC) — all located in solar parks in Rajasthan. The projects use modules from Canadian Solar, JA Solar, and ZNShine, with ABB inverters, and are operated through wholly-owned SPVs (Rising Bhadla 1 Pvt. Ltd., Rising Bhadla 2 Pvt. Ltd., and Rising Sun Energy (K) Pvt. Ltd.). Since December 2020, the company has been a majority-owned subsidiary of Malaysian-listed Yinson Holdings Berhad (95% of RSE, 80% of RSEK).
The company generates revenue by selling electricity under 25-year fixed-tariff Power Purchase Agreements with NTPC Limited at INR 4.35/kWh for the Bhadla projects. GTM is exclusively via competitive bidding on government tenders, primarily NTPC, with land secured through sub-leases from RSDCL (Rajasthan Solar Park Development Company). The Bhadla-2 project has achieved a 24%+ Capacity Utilization Factor since commissioning, described as one of the highest in Rajasthan, and at the time of commissioning in 2017 the company was reportedly delivering the 3rd lowest solar tariff globally. Annual generation is stated at 535 million green energy units, reducing approximately 5,60,816 tonnes of CO2 emissions per year and powering over 14 million households. The company is headquartered in New Delhi and is actively pursuing additional project wins beyond the current operating portfolio.
Rising Sun Energy firmographics
Firmographics- Name
- Rising Sun Energy
- Legal name
- Rising Sun Energy Pvt. Ltd.
- Website
- https://risingsunenergy.in
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Rising Sun Energy is an India-based independent power producer operating a ~460 MWp portfolio of utility-scale solar PV projects in Rajasthan under 25-year fixed-tariff PPAs with NTPC Limited, and is a majority-owned subsidiary of Malaysian-listed Yinson Holdings Berhad.
- Ownership category
- akta.pro rank
Rising Sun Energy industry classification
Industry- Product category
- Solar Power Generation
- NAICS
- Solar Electric Power Generation (221114)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)
- akta.pro secondary industries
- Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ), Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)
Keywords
Where Rising Sun Energy is headquartered
LocationHeadquarters
- HQ city
- New Delhi
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Rising Sun Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Power Sales (PPA-based): Rising Sun Energy generates revenue by selling electricity generated from its solar PV power plants under long-term Power Purchase Agreements (PPAs). The company has PPAs with NTPC Limited at fixed tariff rates (INR 4.35/kWh for Bhadla projects) for 25-year tenors. Revenue is generated from the sale of green energy units to government off-takers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Fixed tariff PPA rate for Bhadla Projects |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Rising Sun Energy product offering
Product offeringCore offering
Rising Sun Energy is an independent power producer (IPP) that develops, owns, and operates utility-scale grid-connected solar photovoltaic (PV) power plants in India. The company's portfolio comprises approximately 460 MWp of solar PV capacity across three projects — Bhadla-1 (87.5 MWp DC), Bhadla-2 (87.5 MWp DC), and Nokh (285 MWp DC) — in Rajasthan's solar parks, with all electricity sold under 25-year fixed-tariff Power Purchase Agreements (PPAs) to NTPC Limited at INR 4.35/kWh. The company additionally pursues green energy units, carbon offset mechanisms (VCS, CDM), and CSR-driven sustainability initiatives alongside its core power generation business.
Product overview
Rising Sun Energy is an independent power producer (IPP) focused on utility-scale solar photovoltaic power generation in India. The company's product portfolio consists of three solar PV power projects: Bhadla-1 (70 MW AC/87.5 MW DC), Bhadla-2 (70 MW AC/87.5 MW DC), and Nokh (190 MW AC/285 MW DC), totaling approximately 460 MWp of operational capacity. All projects are grid-connected installations located in Rajasthan Solar Parks, with power purchase agreements signed with NTPC. The projects utilize solar modules from manufacturers including Canadian Solar, JA Solar, and ZNShine, with inverters supplied by ABB.
Differentiator
Problem solved
Functional benefit
Products and services
- Bhadla-1 Solar PV Power Project Grid-connected solar photovoltaic power plant located in Bhadla Solar Park, Rajasthan, India. 70 MW (AC) / 87.5 MW (DC) capacity across 348 acres, with Canadian Solar modules and ABB inverters. Power sold to NTPC under 25-year PPA at INR 4.35/kWh (AAA credit rating off-taker).
- Bhadla-2 Solar PV Power Project Grid-connected solar photovoltaic power plant located in Bhadla Solar Park, Rajasthan, India. 70 MW (AC) / 87.5 MW (DC) capacity across 348 acres, using Canadian Solar and JA Solar modules with ABB inverters. Power sold to NTPC under 25-year PPA at INR 4.35/kWh. Achieves 24%+ Capacity Utilization Factor, one of the highest in Rajasthan and India.
- Nokh Solar PV Power Project Grid-connected solar photovoltaic power plant located in Nokh Solar Park, Rajasthan, India. 190 MW (AC) / 285 MW (DC) capacity across 895 acres, with ZNShine modules and Sterling & Wilson Solar as EPC Contractor. Power sold to NTPC under 25-year PPA.
Quantifiable outcome
- 5,60,816 tonnes of CO2 emissions reduced every year
- +4 more outcomes
Companies that use Rising Sun Energy
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles1 record
Rising Sun Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Rising Sun Energy partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered minor and core.
- Charisma EnergyminorIn initial years, Rising Sun Energy tied up with Charisma Energy, a Singapore-based group, to set up renewable energy projects in India.
- SunseapminorIn initial years, Rising Sun Energy tied up with Sunseap, a Singapore-based group, to set up renewable energy projects in India.
- NTPC LimitedcoreNTPC Limited is the primary off-taker for RSE's solar projects. Bids for Bhadla-1, Bhadla-2, and Nokh projects were undertaken by NTPC Limited. PPAs were signed with NTPC at fixed tariffs for 25-year tenors. NTPC has a AAA credit rating.
- Sterling & Wilson SolarminorSterling & Wilson Solar served as the EPC Contractor for the Nokh solar project, responsible for engineering, procurement, and construction services.
- Rajasthan Solar Park Development Company Ltd (RSDCL)minorRSDCL is the governmental entity promoting solar park development in Rajasthan and serves as the Solar Park Implementation Agency (SPIA). The company sub-leased land for 30 years for the Nokh project.
- Wildlife Trust of IndiaminorRSE partnered with Wildlife Trust of India for CSR initiative to rescue and treat Domoiselle Cranes affected by H5N1 virus in Jodhpur, Rajasthan. RSE provided grant support in partnership with Rajasthan Forest Department.
- Arpan Seva SansthanminorRSE partnered with Arpan Seva Sansthan for a water sustainability project in Bapini village, Jodhpur district. RSE contributed INR 40 Lakhs for renovation of Mehoji Talab, benefiting 11 neighboring villages and 15,700 residents.
- REACHAminorRSE supported REACHA's Educational and Vocational Guidance Program at Roshan Mustaqbil, Kupwara, Jammu & Kashmir under guidance of Indian Army. Project benefited around 250 local Kashmiri youth.
- Simple Education Foundation (SEF)minorRSE provided a grant of INR 17,50,000 to Simple Education Foundation for Centers of Excellence Program at 3 government schools in Delhi, building competencies in principals, teachers, and parents.
- Warriorswithoutcause NGOminorRSE supported Project Vidyaksha in collaboration with Warriorswithoutcause NGO and AIESEC Delhi University, providing 300 educational kits to children from underprivileged communities.
- Imperial Service Development Society (ISDS)minorRSE partnered with ISDS for Educational Support Initiative at Government Senior Secondary School, Nokh, providing materials, uniforms, and computer systems benefiting 240 students.
- Magan Singh Rajvi Football AcademyminorRSE undertook CSR initiative supporting Magan Singh Rajvi Football Academy, providing 100 pairs of football boots for underprivileged female players and installing a 10 KW rooftop solar power plant at the girls' hostel.
- Human Development Institute (HDI)minorRSE provided financial aid to Human Development Institute, which works to empower special children (with disabilities) through rehabilitation, education, and skill development.
Scale indicators9 records
Recent moves8 records
Expansion highlights5 records
Rising Sun Energy competitors and assessment
Company assessmentDirect peers
- ACME Solar Holdings: India-based solar IPP with a portfolio of utility-scale solar projects selling power to government off-takers under long-term PPAs. Closely comparable in scale, technology stack, and competitive bidding landscape.
- ReNew Power: Major Indian independent renewable energy IPP with utility-scale solar and wind assets selling power under long-term PPAs to government off-takers. Highly comparable business model, customer base, and competitive bidding landscape to Rising Sun Energy.
- Hero Future Energies: Indian renewable energy IPP with utility-scale solar and wind projects across multiple states under long-term PPAs. Comparable business model and target customer base to Rising Sun Energy.
- Tata Power Renewables: Renewables arm of Tata Power focused on utility-scale solar IPP projects in India, bidding for NTPC and SECI tenders and signing long-term PPAs. Closely comparable in asset class, customer base, and PPA structure to Rising Sun Energy.
- Sprng Energy: Indian renewable energy platform developing utility-scale solar and wind projects under long-term PPAs. Comparable in scale, technology, and customer base to Rising Sun Energy.
- Greenko Group: Large Indian renewables IPP with utility-scale solar, wind, and hydro storage assets selling power under long-term PPAs. Comparable in business model and target customers, with broader technology diversification than Rising Sun Energy.
- Adani Green Energy: India's largest solar IPP with utility-scale projects across multiple states, selling power to NTPC and other government off-takers under long-term PPAs. Directly comparable to Rising Sun Energy as a solar IPP competing in the same NTPC tender ecosystem.
- Azure Power: India-focused solar IPP developing, owning, and operating utility-scale solar projects under long-term PPAs with NTPC and other government off-takers. Directly comparable in terms of scale, technology, and revenue model.
Emerging players
- Sterling & Wilson Solar: One of the world's largest solar EPC contractors, including the EPC contractor for Rising Sun Energy's Nokh project. Comparable as a key player in the Indian utility-scale solar value chain, though positioned in EPC rather than IPP ownership.
Broad incumbents
- JSW Energy: Diversified Indian power producer with a growing renewables portfolio including utility-scale solar. Broader incumbent with generation mix across thermal and renewable, but overlapping directly with RSE in solar IPP development and long-term PPAs.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Rising Sun Energy social profiles
Digital presenceRising Sun Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rising Sun Energy leadership team
Management profileNumber of profiles
Profiles15 records
Rising Sun Energy subsidiaries and ownership
Company hierarchySubsidiaries3 records
Rising Sun Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rising Sun Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rising Sun Energy
What does Rising Sun Energy do?
Rising Sun Energy is an independent power producer (IPP) that develops, owns, and operates utility-scale grid-connected solar photovoltaic (PV) power plants in India. The company's portfolio comprises approximately 460 MWp of solar PV capacity across three projects — Bhadla-1 (87.5 MWp DC), Bhadla-2 (87.5 MWp DC), and Nokh (285 MWp DC) — in Rajasthan's solar parks, with all electricity sold under 25-year fixed-tariff Power Purchase Agreements (PPAs) to NTPC Limited at INR 4.35/kWh. The company additionally pursues green energy units, carbon offset mechanisms (VCS, CDM), and CSR-driven sustainability initiatives alongside its core power generation business.
Is Rising Sun Energy a public or private company?
Rising Sun Energy is a private company. It is classified as corporate owned and is currently operating.
When was Rising Sun Energy founded?
Rising Sun Energy was founded in 2014. It employs 11 to 50 people.
Where is Rising Sun Energy based?
Rising Sun Energy is headquartered in New Delhi, India, in the Asia region.
How does Rising Sun Energy make money?
One revenue line is on record: power Sales (PPA-based).
Who are Rising Sun Energy's main competitors?
Direct peers on record are ACME Solar Holdings, ReNew Power, Hero Future Energies, Tata Power Renewables, Sprng Energy, Greenko Group, Adani Green Energy and Azure Power. Sterling & Wilson Solar is listed as an emerging player. JSW Energy is listed as a broad incumbent.
Does Rising Sun Energy have an API?
No public API is recorded for Rising Sun Energy.
What industry is Rising Sun Energy in?
Rising Sun Energy's product category is Solar Power Generation. Its primary akta.pro industry code is EUAMABAA, Solar Project Development & IPP (Utility-Scale & Rooftop), with a secondary code of EUAMABAJ, Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization). Its NAICS code is 221114 and its SIC code is 4911.