SolarTherm

What SolarTherm does

SolarTherm (legal entity Alpha Thermal Systems (Private) Limited) is Sri Lanka's oldest continuously operating solar company, founded in 1982 in collaboration with the National Engineering Research and Development Centre (NERD). The company designs, manufactures, distributes, and installs two core product families: solar water heating systems (domestic thermosiphon units of 75–300L plus large commercial forced-circulation systems using 304L/316L stainless-steel tanks and proprietary black-chrome copper absorbers with ultrasonic fusion bonding) and solar photovoltaic systems (grid-tied, hybrid with battery storage, and off-grid configurations using panels and inverters from global suppliers Trina, JA Solar, Solis, FoxEss, and Sunways). It also holds the exclusive Sri Lankan distribution rights for Australia's Solahart water-heating brand and operates a sister company, Alpha Solar Energy Systems (Pvt) Ltd (est. 2003), dedicated to PV activities.

The company serves three primary segments: residential homeowners (typical 3–10 kW PV systems and 100–300L water heaters), commercial and industrial customers (large rooftop and ground-mounted PV installations, plus commercial hot water for hotels and factories), and government/religious/community institutions. Notable enterprise customers include Swadeshi Industrial Works (540 kW), District Secretariat Polonnaruwa (500 kW), Surtex Industries (400 kW), Jetwing Yala (300 kWp), Arpico Super Centre (320 kWp), MAS Linea Aqua (250 kWp), Marriott Weligama, Shangri-La Colombo, Anantara Tangalle, and Bandaranaike International Airport. Cumulative installed base exceeds 50 MW to the national grid and 100,000 customers.

SolarTherm generates revenue primarily through one-time hardware sales and installation fees, with after-sales service as a secondary stream and bank-referral financing as a sales enabler (not direct revenue). Distribution is entirely domestic through seven branches (Colombo HQ plus Galle, Matara, Bandarawela, Kandy, Negombo, Kurunegala) and two manufacturing facilities (Kandana plus historical Ekala), with go-to-market via direct field sales for enterprise, inside-sales hotline/WhatsApp for residential, and bank partner channels offering 0% EMI and ADB/LECO/CEB-backed green loans. The company is privately held, family-led (Jayasuriya family), with no disclosed external equity investors and no reported revenue figure.

Name

SolarTherm

Legal name

Alpha Thermal Systems (Private) Limited

Website

https://solartherm.lk

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

51–100 employees

Short description

SolarTherm is Sri Lanka's oldest solar company (since 1982), designing, manufacturing, and installing solar water heating and photovoltaic systems for residential, commercial, industrial, and government customers across Sri Lanka through seven branches and two manufacturing facilities, serving over 100,000 cumulative customers.

Ownership category

akta.pro rank

Product category

Solar Energy Systems and Equipment

NAICS

Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Solar Electric Power Generation (221114)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures (3430)

akta.pro industry

PRIMARYEUAMABAB

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

Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Solar Energy (PV, CSP, Rooftop & Utility-Scale)

SECONDARYIMADAFAO

Solar Roofing & Roof-Mounted PV Systems

Industrials, Manufacturing & Construction/Building Materials & Products/Roofing Materials & Systems

SECONDARYEUACAGAG

Owner’s Engineering, Grid Interconnection & System Studies (PVsyst/Performance Modeling, Protection Studies)

Energy, Utilities & Environment/Electric Power Generation/Solar Power Generation (Utility-Scale PV & CSP)

Keywords

• Solar water heaters
• Solar PV systems
• Rooftop solar installation
• Hybrid battery storage
• Commercial solar projects

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Solar PV System Sales and Installation: SolarTherm sells and installs solar photovoltaic systems — residential, commercial, and industrial rooftop solar systems. Revenue is generated through one-time hardware sales plus installation fees. The company sources panels from global suppliers (Trina, JA Solar) and inverters (Solis, FoxEss, Sunways). Alpha Solar Energy Systems (Pvt) Ltd handles PV activities separately.
2. Solar Water Heating System Sales and Installation: SolarTherm designs, manufactures, and installs solar water heating systems for domestic and commercial use. Includes thermosiphon systems, pressurized indirect vacuum tube systems, and Solahart-branded products. Revenue is a one-time hardware and installation fee. Commercial systems use forced circulation and large storage tanks.
3. Solar Financing Facilitation: SolarTherm partners with multiple banks (Commercial Bank, DFCC Bank, Sampath Bank, Seylan Bank, HNB) and Alliance Finance to offer solar loans. While not a direct revenue stream, facilitating financing enables customer purchases and may include referral or processing arrangements.
4. After-Sales Service and Maintenance: SolarTherm provides after-sales service including system maintenance and technical support. The company operates an after-sales division staffed with experienced professionals.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

SolarTherm designs, manufactures, sells, and installs solar water heating systems (domestic thermosiphon units, commercial forced-circulation systems, Solahart-branded products, and a 2025-launched pressurized indirect vacuum tube range) and solar photovoltaic (PV) electricity systems (grid-tied, hybrid with battery storage, and off-grid) for residential, commercial, industrial, and government customers across Sri Lanka. The company handles end-to-end delivery including site survey, system design, hardware supply, installation, net-metering coordination with CEB/LECO, and after-sales maintenance, sourcing panels from Trina/JA Solar and inverters from Solis/FoxEss/Sunways while manufacturing collectors and tanks locally at its Kandana facility.

Product overview

SolarTherm offers a comprehensive portfolio of solar energy solutions comprising two main categories: solar water heating systems and solar electricity (PV) systems. Water heating includes domestic systems (100L-300L capacities with stainless steel tanks), commercial systems with forced circulation for hotels and institutions, and the Solahart sub-brand. Solar electricity encompasses residential and commercial rooftop PV systems, hybrid battery storage systems, and off-grid solutions. The company also provides net metering schemes including Net Metering, Net Accounting, and Net Plus options. All offerings are supported by installation, maintenance, and financing assistance through banking partners.

Differentiator

Problem solved

Functional benefit

Brands

• Alpha Solar Energy Systems: Sister company established in 2003 specializing in solar photovoltaic (PV) activities, providing grid-tied, hybrid, and off-grid rooftop solar power systems for residential, commercial, and industrial clients.
• Solahart

Products and services

• Domestic Solar Water Heating Systems

Quantifiable outcome

• Monthly electricity savings of LKR 2,173–11,032 depending on solar water heater size (75L–300L)
• +7 more outcomes

Named customers16 records

Segments5 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

Partnerships

Nine partnerships are on record, tiered core and major.

• National Engineering Research and Development Centre (NERD) of Sri LankacoreStrategic or Co-development PartnerIn 1982, SolarTherm in collaboration with NERD developed the first solar water heater in Sri Lanka. This founding partnership established SolarTherm's position as a pioneer in the Sri Lankan solar industry.
• LECO (Lanka Electricity Company) / Ceylon Electricity Board (CEB)coreStrategic or Co-development PartnerLECO and CEB are the utility providers that handle net metering, net accounting, and net plus connections for solar PV systems. SolarTherm coordinates on behalf of clients for net meter applications, estimates, and installations. The Soorya Bala Sangramaya initiative (2016) was launched in collaboration with SLSEA, CEB, and LECO to promote rooftop solar.
• JA SolarmajorTechnology or IntegrationJA Solar is a global solar manufacturer producing solar panels. Recognized in Fortune 500 China 500 and Global Top 500 New Energy Enterprises. SolarTherm sources premium solar panels from JA Solar as part of their 2026 system offerings (Trina/JA Solar panels).
• Solis (Ginlong Technologies)majorTechnology or IntegrationSolis (Stock Code: 300763.SZ), established in 2005, is one of the most experienced and largest manufacturers of solar inverters. Uses innovative string technology delivering first-class reliability. SolarTherm uses Solis inverters in their 2026 solar PV system offerings.
• TrinaSolarmajorTechnology or IntegrationTrinaSolar is a world-leading solar products and energy solutions provider, active in more than 15 countries. Global leader in solar project development and management. SolarTherm sources TrinaSolar panels for their premium solar PV installations.
• SunwaysmajorTechnology or IntegrationSunways is a leading manufacturer of photovoltaic inverters with over 30 years of experience, offering grid-tied and hybrid models for residential, commercial, and industrial customers. SolarTherm uses Sunways inverters in their 2026 system offerings.
• SolahartcoreChannel Partner/ Reseller/ DistributorSolahart has been Australia's leading solar brand since 1953 with over 1 million systems installed. SolarTherm is the sole distributor for Solahart domestic and commercial hot water systems in Sri Lanka. Solahart products use thermosiphon technology with heat-absorbent coating and boosters (electric/gas).
• SolarWorldmajorTechnology or IntegrationSolarTherm contributed over 50 MW to the national grid using SolarWorld solar modules, indicating a past significant supply partnership with the German solar module manufacturer.
• Sustainable Energy Authority (SEA) of Sri LankacoreStrategic or Co-development PartnerSolarTherm – Alpha Solar Energy Systems (Pvt) Ltd is a registered company at the Sustainable Energy Authority. SEA registration is required for clients to access solar loan facilities and net metering schemes. SolarTherm also participates in SEA-led initiatives like Soorya Bala Sangramaya.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Lakdhanavi: Sri Lankan energy company with solar PV EPC operations including ground-mounted and rooftop installations. Comparable in commercial-scale solar project execution and customer segments (industrial, hospitality, government).
• WindForce PLC: Sri Lankan renewable energy company engaged in solar PV and wind power project development. Comparable to SolarTherm's commercial-scale project business (50+ MW range) and grid-tied rooftop installations.
• Hayleys Solar: One of Sri Lanka's largest solar EPC providers, part of the Hayleys conglomerate. Directly comparable to SolarTherm in residential and commercial rooftop PV, with similar bank financing partnerships and government contract wins.
• Synergy Solar: Sri Lankan solar EPC company offering residential and commercial rooftop PV with hybrid and battery storage options. Competes directly with SolarTherm's core PV installation business and shares the same CEB/LECO net metering dependency.
• Jinasena Solar: Sri Lankan solar water heating and PV provider with multi-decade presence. Closest direct comparable to SolarTherm's solar thermal manufacturing heritage and dual-product portfolio (water heating + PV).

Emerging players

• Loom Solar: Indian direct-to-consumer solar company with retail and online distribution. Comparable to SolarTherm's residential PV segment and published pricing model, though geographically focused on India.

Broad incumbents

• Tata Power Solar: Indian solar EPC giant with residential, commercial, and utility-scale operations. Comparable technology stack (PV + storage) and customer segments, but operates at much larger scale across broader South Asian geography.
• Waaree Energies: India's largest solar module manufacturer with growing EPC operations. Relevant comparable for solar PV installation services and component sourcing dynamics that affect SolarTherm's hardware costs.

Others

• Alpha Solar Energy Systems: SolarTherm's own wholly-owned subsidiary (since 2003) handling the PV side of the business. While not an external peer, it represents the company's own PV-focused spin-off structure and helps frame the dual-entity operating model.
• Solahart: Australian solar water heating brand (since 1953, 1M+ systems installed). SolarTherm is Solahart's exclusive Sri Lankan distributor — represents the partner/principal relationship rather than a direct competitor, but Solahart's technology and brand positioning closely mirrors SolarTherm's water heating product line.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/SolarThermlk
• Instagraminstagram.com/solarthermsl
• Xx.com/solartherm
• LinkedInlinkedin.com/company/solarthermlk

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 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 SolarTherm