Ilios Power

What Ilios Power does

Ilios Power is a Hyderabad-based, IIT-founder-led solar services company operating across three integrated pillars: EPC (Engineering, Procurement and Construction), IPP (Independent Power Producer), and Asset Management/O&M. Since founding in 2011 the company has delivered more than 1 GWp of EPC across 200+ projects in 12-14 countries (depending on source), including India's first seawater floating PV plant at BPCL's Kochi refinery, an 11.2 MWp installation in Nigeria that was the country's largest at commissioning, and a Solar + BESS off-grid microgrid for a Diamond Cements mine in Mali. Its underlying technology stack spans utility-scale ground-mount, single-axis tracking, bifacial Mono-PERC, rooftop, floating PV, BESS-integrated PV, and Agri-PV systems, executed under an ISO 9001/14001/45001-certified QHSE system with 24/7 SCADA remote monitoring.

The commercial model combines one-time fixed-fee EPC contracts (recognised on commissioning), long-tenor recurring IPP power sales under 25-year PPAs (60 MWp currently owned, anchored by 7 PPAs with MPUVNL), and SLA-backed O&M/asset management over a 800+ MW portfolio across 7 Indian states. Go-to-market is direct enterprise sales targeting India's largest energy PSUs — BPCL, HPCL, GAIL, NHPC, BHEL, ONGC — and large commercial and industrial clients such as DLF, Godrej, SBI and Kallam Textiles, supplemented by an international consulting and advisory stream covering 10+ GWp of pipeline across 7 countries.

The company is privately held with no disclosed institutional funding, led by Founder & CEO Naveen Vunnam, operates with 51-100 employees, and has built a credentialised record of 99.98% uptime over 11 years on early single-axis tracker plants and multiple Mercom and SolarQuarter SPEW engineering awards. Key forward signals include a 2025 execution book crossing 350 MWp, ongoing international project delivery in Africa, the Americas and Central Asia, and entry into green hydrogen-adjacent EPC via GAIL.

Name

Ilios Power

Legal name

Ilios Power

Website

https://iliospower.in

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

51–100 employees

Short description

Ilios Power is a Hyderabad-based IIT-founder-led solar EPC, IPP and O&M company delivering utility-scale, rooftop, floating PV and BESS-integrated projects primarily for India's largest energy PSUs (BPCL, HPCL, GAIL, NHPC) and selected C&I enterprises across India and 12+ international markets.

Ownership category

akta.pro rank

Product category

Solar EPC and Energy Services

NAICS

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

SIC

Electric Services (4911)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industries

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA), Utility-Scale Power Generation Asset Management (EUAEAMAA), Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)

Keywords

• Utility-scale solar EPC
• Solar independent power producer
• Solar operations and maintenance
• Floating photovoltaic systems
• Agri-photovoltaic solutions

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices1 record

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. EPC (Engineering, Procurement & Construction): Fixed-fee EPC contracts for utility-scale solar projects, including self-performed civil, mechanical, and electrical execution under ISO-certified QHSE system. Revenue recognized upon project commissioning.
2. IPP (Independent Power Producer): Long-term power purchase agreements (PPAs) with 25-year average tenure, originating, permitting, financing, and operating solar assets. Revenue from electricity sales to utilities and off-takers like MPUVNL.
3. O&M and Asset Management: Lifecycle performance management for 800+ MW under O&M across 7 Indian states. SLA-backed services including preventive maintenance, corrective response, cleaning, 24/7 remote monitoring via SCADA, and performance reporting.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Ilios Power provides end-to-end solar energy solutions across three pillars: EPC (Engineering, Procurement & Construction) of utility-scale ground-mount, rooftop, floating PV, Solar+BESS, and Agri-PV plants; IPP (Independent Power Producer) development and ownership of solar assets under 25-year PPAs; and long-term Asset Management/O&M for 800+ MW across 7 Indian states. The company delivers bankable, ISO-certified solar assets for India's largest energy PSUs and C&I enterprises, with execution spanning 14 countries across 4 continents.

Product overview

Ilios Power operates as a vertically integrated solar services company with three core business pillars: EPC (Engineering, Procurement & Construction), IPP (Independent Power Producer), and Asset Management/O&M. The EPC arm delivers utility-scale ground-mount, rooftop, floating solar, BESS-integrated PV, and Agri-PV projects. The IPP division develops and operates owned solar assets through a full lifecycle (land, permitting, PPA, financing, commissioning, O&M handover). The Asset Management arm provides 25-year O&M services covering 800+ MW under management across 7 Indian states. The company has delivered 1 GW+ EPC, owns 60 MWp as IPP, and manages 800 MWp under O&M.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar EPC (Engineering, Procurement & Construction) Fixed-fee Engineering, Procurement & Construction services for utility-scale and distributed solar power plants, including self-performed civil, mechanical, and electrical execution under ISO 9001/14001/45001-certified QHSE standards. Targeted at India's largest energy PSUs (BPCL, HPCL, GAIL, NHPC, BHEL, ONGC) and large C&I enterprises, with international execution via consulting and advisory engagements.
• Solar IPP (Independent Power Producer) Full lifecycle solar asset development and ownership — originating, permitting, financing, building, and operating utility-scale solar plants under 25-year power purchase agreements with state utilities and off-takers such as MPUVNL. Generates recurring revenue from electricity sales across owned capacity, including distributed PM-KUSUM-A assets in rural areas.
• Solar Asset Management / O&M SLA-backed lifecycle operations and maintenance services for third-party and IPP-owned solar plants, including preventive and corrective maintenance, module cleaning, inverter and BoS health monitoring, spares management, warranty reporting, and 24/7 SCADA-based remote monitoring and performance analytics. Currently covers 800+ MW across 7 Indian states.
• Floating Solar (Floatovoltaic) Floatovoltaic EPC and deployment on reservoirs and water bodies using anchored, corrosion-resistant float systems; breakthrough capability includes India's first seawater floating PV installation at BPCL Kochi. Targeted at refineries, industrial reservoirs, and other water bodies where land is unavailable or environmentally constrained.
• Solar PV + Energy Storage (BESS) Microgrid Integrated photovoltaic and battery energy storage system solutions delivering firm power, peak shifting, and grid-stabilising hybrid generation, including off-grid microgrid applications for remote industrial sites (e.g., mining). Combines solar PV with BESS and synchronizes with existing diesel generation for uninterrupted power supply.
• Agri-Photovoltaic (Agri-PV) Dual-use Agri-PV solutions enabling simultaneous electricity generation and agricultural use, including engineering and agronomic advisory for land optimisation. Delivered primarily through government PM-KUSUM schemes to provide solar-powered irrigation and farmer livelihood improvement while generating utility-scale power.

Quantifiable outcome

• 9.8 MWp seawater floating PV commissioned - India's first
• +7 more outcomes

Named customers12 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

Feature4 records

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Waaree Energies: Indian solar manufacturer and EPC with vertically integrated operations including module production. Overlaps with Ilios in solar EPC for utility-scale and C&I segments, though anchored by manufacturing.
• Greenko Group: Large Indian renewable IPP with utility-scale solar, wind, and storage assets. Comparable as a vertically integrated clean energy platform, though operating at materially larger scale and broader technology scope.
• Vikram Solar: Indian solar module manufacturer and EPC offering utility-scale and rooftop solutions. Overlaps with Ilios in EPC execution though anchored by module manufacturing scale.
• Adani Solar: Vertically integrated solar arm of the Adani Group covering manufacturing, EPC, and IPP. A broad incumbent competing for large Indian solar tenders alongside Ilios with substantially greater capital backing.
• Tata Power Solar Systems: One of India's largest solar EPC and module manufacturers with utility-scale, rooftop, and IPP operations. Directly comparable as a vertically integrated Indian solar EPC competing for the same PSU tenders, though at significantly larger scale.
• ReNew Power: One of India's largest renewable IPPs with significant utility-scale solar and wind portfolios. Comparable on the IPP/asset ownership dimension, though at much larger scale and broader technology mix.
• Sterling and Wilson Renewable Energy: Major Indian solar EPC with global footprint delivering utility-scale projects. Competes for the same PSU and large C&I contracts, with broader international execution and historically larger scale.

Direct peers

• Sunsure Energy: India-focused solar IPP and C&I rooftop developer operating RESCO PPAs with commercial customers. Comparable business model in distributed solar and asset ownership, serving overlapping C&I client segments.
• Fourth Partner Energy: India-focused distributed solar and C&I rooftop developer with EPC and IPP arms, backed by institutional investors. Comparable business model serving C&I and PSU clients through RESCO PPAs.
• Jakson Group: Indian solar EPC, IPP, and O&M operator with similar mid-sized scale, serving PSU and C&I clients across utility-scale and rooftop segments. Closely comparable in business model and customer profile to Ilios Power.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ilios-power
• Xx.com/iliospower
• Facebookfacebook.com/ilios.power

Compliance3 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 Ilios Power