Solar Innovation

What Solar Innovation does

Solar Innovation S.A. (WSE: SIN, ISIN: PLTABLO00012) is a publicly listed Polish capital group operating in the renewable energy (OZE) sector, headquartered in Warsaw with a registered office in Kraków. The company was originally listed on the Warsaw Stock Exchange's NewConnect alternative market in December 2011 as Tableo S.A., later renamed to Solar Innovation S.A. in November 2020 following a strategic pivot into renewable energy. The group delivers a comprehensive portfolio of photovoltaic (PV) installations ranging from residential micro-installations (up to 50 kWp) through commercial systems (50 kWp–1 MWp) to large-scale solar farms (above 1 MWp), complemented by heat pumps, biomass boilers, gas and electrode boilers, energy storage, and emerging e-mobility infrastructure. It also offers professional services including energy audits, funding application support, investment supervision, and financing intermediation for individual customers, businesses, and local government units (JST).

The business operates through a sales-led go-to-market combining direct phone-based sales representatives for residential customers, enterprise field sales for B2B and investor engagements, and dedicated project coordination for JST clients. Revenue is generated primarily through one-time installation sales, professional services, and managed services tied to solar farm development and capital group consolidation. The group pursues a roll-up strategy, building a capital group through acquisitions of other OZE companies (including a wholly-owned subsidiary, Semper Power Sp. z o.o.) and offering partnership structures such as 50/50 joint ventures and special purpose companies (SPVs) for solar farm investors. Majority ownership rests with PGF Polska Grupa Fotowoltaiczna SA (~49.88%), making Solar Innovation a controlled subsidiary within a broader Polish photovoltaic group.

Critically, in November 2023 the company announced it is undergoing a strategic options review and, per its own mission statement, "currently does not conduct operational activity." Disclosed financials are limited: FY2020 revenue of 11.076 million PLN (up from 4.821 million PLN in 2019) accompanied by a net loss of 3.025 million PLN. A disciplinary measure was imposed in June 2023, and the company continues to issue shares (Series E in 2020, Series F in 2024) to fund capital group development. The entity is therefore best characterized as a publicly listed but operationally dormant shell pursuing consolidation in the Polish PV sector.

Name

Solar Innovation

Legal name

Solar Innovation Spółka Akcyjna

Website

https://solarinnovation.pl

Company type

Public

Founded year

2011

Operating status

Operating

Short description

Solar Innovation S.A. is a publicly listed Polish renewable energy capital group offering photovoltaic installations, heat pumps, biomass boilers, and solar farm development for residential, business, and government clients. Currently non-operational while undergoing a strategic options review.

Ownership category

akta.pro rank

Product category

Renewable Energy Installation Services

NAICS

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

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

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

akta.pro secondary industries

Solar Financing, Leasing & Ownership Platforms (Tax Equity, PPA, Securitization) (EUAMABAJ), Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)

Keywords

• Photovoltaic installations
• Heat pump installations
• Biomass boiler systems
• Solar farm development
• Renewable energy services

Headquarters

HQ city

Katowice

HQ country

Poland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales

Revenue model

1. Photovoltaic Installation Sales and Services: Revenue from installation, design, and project management of photovoltaic systems for individual customers, businesses, and solar farms. Services include micro-installations (up to 50kWp) for individuals and businesses, larger installations (50kWp to 1MWp), and solar farms (above 1MWp).
2. Heat Pump and Biomass Boiler Sales: Sales of heat pumps, biomass boilers, gas boilers, and electrode boilers for residential and commercial applications.
3. Consulting and Project Services: Professional services including energy audits for companies and local government units, functional utility programs, investment supervision, funding application preparation, and strategies for OZE projects.
4. Solar Farm Development and Investment: Building and operating own photovoltaic farms, development of special purpose companies with partners for solar farm projects, and market consolidation through acquiring other OZE companies.
5. Financing Services: Access to financing sources for OZE investments for individual customers, businesses, local government units, and own projects.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels3 records

Core offering

Solar Innovation S.A. is a Polish renewable energy company that designs, supplies, and installs photovoltaic (PV) systems, heat pumps, and biomass boilers for residential, commercial, and local government customers. The company also develops solar farm projects and provides investment services in renewable energy assets as part of the PGF Polska Grupa Fotowoltaiczna capital group.

Product overview

Solar Innovation S.A. is a capital group offering a comprehensive portfolio of renewable energy solutions centered on photovoltaic systems, heat pumps, and energy management. The core offering includes photovoltaic installations ranging from residential micro-systems (under 50 kWp) to commercial installations (50 kWp–1 MWp) and large-scale solar farms (above 1 MWp), complemented by heat pump and biomass boiler installations. Add-on capabilities include energy storage solutions, investment financing access, and specialized consulting services for local government units (JST) covering funding applications, energy audits, and project supervision. The group also pursues market consolidation through strategic acquisitions of other OZE companies, positioning itself as a one-stop provider for integrated renewable energy deployment.

Differentiator

Problem solved

Functional benefit

Products and services

• Photovoltaic installations Design, supply, and installation of rooftop and ground-mounted photovoltaic (PV) systems for residential, commercial, and public-sector customers in Poland to generate solar electricity.
• Heat pump installations Supply and installation of heat pump systems for heating and hot water in residential, commercial, and public-sector buildings as an energy-efficient alternative to fossil-fuel heating.
• Biomass boiler installations Supply and installation of biomass boiler systems for residential, commercial, and public-sector heating applications using renewable solid fuel.
• Solar farm development Development of utility-scale solar farm projects in Poland, including project planning, permitting, construction, and commissioning for sale or operation as renewable energy assets.
• Solar farm investment services Investment services related to solar farm assets, enabling investors to participate in Polish renewable energy projects developed or offered by the company.

Quantifiable outcome

• Increased revenue from 4.821 million PLN (2019) to 11.076 million PLN (2020)
• +1 more outcomes

Segments4 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

Three partnerships are on record, tiered minor.

• SunDragonminorOthersPartner company in the capital group ecosystem, appearing in logo section of the website alongside other group companies.
• CSYminorOthersPartner company in the capital group ecosystem, appearing in logo section of the website alongside other group companies.
• AgrosteelminorOthersPartner company in the capital group ecosystem, appearing in logo section of the website alongside other group companies.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• R.Power: Polish PV developer and EPC operating utility-scale solar farms and C&I installations. Directly comparable to Solar Innovation's solar farm development (above 1MWp) and JV/SPV collaboration models.
• Photon Energy: Solar power producer and EPC across Europe with strong presence in Poland. Comparable as both a PV installer and an operator of utility-scale solar farms, matching Solar Innovation's dual installation/ownership model.
• Columbus Energy: One of the largest residential and commercial PV installation companies in Poland, offering a similar full-stack solar and heat pump service. Direct overlap with Solar Innovation in residential PV, micro-installations, and Polish market focus.

Emerging players

• SunRoof: European integrated solar roofing company combining PV installations with roofing systems. Comparable in the residential and B2B solar installation segment and in the complementary heat-pump adjacent offerings.

Broad incumbents

• Polenergia: One of Poland's largest listed renewable energy groups, with wind, solar, and biomass operations. Comparable as a broad incumbent in Polish renewable energy with overlapping services in solar farm development and EPC.
• SunPower (now Complete Solar): US-based solar company with residential and commercial installation offerings. Comparable as a full-service PV installer targeting homeowners and businesses, similar to Solar Innovation's residential and B2B motion.

Others

• SunDragon: Group company in the Solar Innovation capital group ecosystem, listed on Solar Innovation's website as a partner. Adjacent participant in the OZE sector with a direct ecosystem relationship.
• PGF Polska Grupa Fotowoltaiczna: Parent company controlling 49.88% of Solar Innovation's shares and the dominant strategic stakeholder. Closely related as the controlling entity in the capital group consolidation strategy.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 Solar Innovation