Pickrenew Energy Pvt. Ltd.

What Pickrenew Energy Pvt. Ltd. does

Pickrenew Energy Pvt. Ltd. is a privately held solar EPC (Engineering, Procurement, and Construction) company headquartered in Indore, Madhya Pradesh, with 62 employees. Founded in 2019 and operating under the trade names PickRenew Energy and PICKRENEW, the company delivers end-to-end solar solutions—ranging from feasibility study and approvals through procurement, installation, commissioning, and ongoing O&M—across four primary customer segments: industrial rooftops, commercial establishments, residential customers, and agricultural clients served via the government PM-KUSUM scheme. Its technical stack is based on Tier-1 photovoltaic components (rooftop, ground-mounted, and solar park configurations up to 2 MW) supplemented by an IoT-based monitoring and analytics layer for installed-system performance and predictive maintenance.

The company's revenue model spans both one-time and recurring streams: EPC project revenue under the CAPEX model (customer-owned), RESCO/OPEX third-party-owned structures with long-tenor power-sale agreements, subscription-based Operation & Maintenance, and PPA/IEX-mediated transactions. Go-to-market is direct enterprise field sales targeting industrial corridors across Madhya Pradesh (Indore, Bhopal, Gwalior, Dewas, Pithampur, Ujjain, Sehore, Shajapur, Rajgarh, Nimrani) plus limited out-of-state execution (Hubli, Karnataka). Strategic partnerships include MPUVNL for PM-KUSUM execution and procurement relationships with Tier-1 solar panel and battery organizations. The company maintains a multi-channel content and SEO marketing presence, an Investors section with FY 2024-25 AGM and CSR filings, and 33 Google reviews supporting customer-acquisition efforts in its regional market.

Name

Pickrenew Energy Pvt. Ltd.

Legal name

PickRenew Energy Pvt. Ltd.

Website

https://pickrenew.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Pickrenew Energy Pvt. Ltd. is a privately held solar EPC company headquartered in Indore, India, delivering rooftop, ground-mounted, and solar park installations plus IoT monitoring and O&M to industrial, commercial, residential, and agricultural customers across Madhya Pradesh under CAPEX, RESCO, and PPA models.

Ownership category

akta.pro rank

Product category

Solar EPC Services

NAICS

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

akta.pro primary industry

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

Keywords

• Solar EPC services
• Rooftop solar installation
• Ground-mounted solar
• Solar park development
• Renewable energy solutions

Headquarters

HQ city

Indore

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Solar EPC (Engineering, Procurement, Construction): One-time project-based revenue from designing, procuring equipment, installing, and commissioning solar power systems for customers. Covers industrial rooftop, commercial rooftop, residential rooftop, and utility-scale solar park projects.
2. Operation & Maintenance (O&M): Recurring revenue from maintaining installed solar power plants, ensuring optimal performance throughout the system lifespan.
3. Power Purchase Agreements (PPA) / IEX: Revenue generated through long-term power purchase agreements where the company or its customers sell generated electricity to the grid or third parties via Indian Energy Exchange.
4. RESCO/OPEX Model: Renewable Energy Service Company model where PickRenew owns the solar system and sells power to customers at rates lower than grid tariff, generating recurring revenue over the contract period.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Pickrenew Energy designs, procures, installs, and commissions solar photovoltaic power systems under turnkey Engineering, Procurement, and Construction (EPC) contracts. The company delivers rooftop, ground-mounted, and solar-park projects for industrial, commercial, residential, and utility-scale customers, with bundled Operation & Maintenance, PPA/IEX facilitation, and PM-KUSUM Yojana scheme execution under CAPEX and RESCO/OPEX engagement models.

Product overview

PickRenew Energy is a renewable energy solutions company offering a comprehensive portfolio of solar products and services across India, with a strong presence in Madhya Pradesh. The company operates through two primary business models: the CAPEX Model (customer-owned installations) and the RESCO/OPEX Model (third-party owned). Its core product lineup includes Industrial Rooftop Solar, Commercial Solar Rooftop, Residential Rooftop Solar, and Solar Park (utility-scale) installations. Supporting services include Solar EPC (end-to-end project delivery), Operation & Maintenance, and Power Purchase Agreement facilitation. The company also serves the agricultural sector through PM-KUSUM Yojana solutions. Services are delivered across multiple segments including Industrial, Commercial, Residential, and Utility Scale Projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial Rooftop Solar Turnkey rooftop solar EPC for factories and manufacturing plants aimed at offsetting industrial grid-electricity consumption under CAPEX or RESCO/OPEX models.
• Commercial Solar Rooftop Turnkey rooftop solar EPC for commercial buildings such as offices, retail outlets, hospitality venues, and educational institutions seeking to reduce grid-electricity costs.
• Residential Rooftop Solar Turnkey rooftop solar EPC for individual homeowners and small residential properties aimed at reducing household electricity bills under net-metering frameworks.
• Solar Park Development Utility-scale solar park EPC for developers, IPPs, and large off-takers, supplying power under PPA structures or via the Indian Energy Exchange (IEX).
• Ground-Mounted Solar Projects Turnkey ground-mounted solar EPC for sites where rooftop deployment is not feasible, serving industrial or utility-scale customers.
• Operation & Maintenance (O&M) Services Post-installation Operation & Maintenance services for solar assets including preventive maintenance and IoT-based remote plant monitoring.
• Power Purchase Agreement (PPA) and IEX Facilitation Facilitation of Power Purchase Agreements and Indian Energy Exchange (IEX) off-take arrangements for utility-scale / solar park projects, including support on PPA structuring.
• PM-KUSUM Yojana Solutions Solar pump and distributed agricultural solar deployment executed under India's PM-KUSUM Yojana scheme via PickRenew's MPUVNL empanelment, targeting farmers and rural landowners.
• CAPEX Solar Engagement Model Solar EPC delivered under an upfront capex purchase model in which the customer procures and owns the installed solar asset directly.
• RESCO / OPEX Solar Engagement Model Solar EPC delivered under a no-money-down RESCO/OPEX model in which the customer pays a recurring per-unit tariff rather than upfront capex.

Quantifiable outcome

• 60-90% reduction in monthly electricity bills for industrial customers
• +6 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Industry-leading solar panel and battery organizationscoreTechnology or IntegrationPickRenew partners with industry-leading organizations for procurement of best-in-class solar panels and solar batteries. These partnerships ensure access to high-quality Tier-1 solar modules and components for project installations.
• Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL)coreImplementation/ SI/ Consulting PartnerPickRenew works with MPUVNL as the state implementing agency for PM-KUSUM Yojana in Madhya Pradesh. The partnership involves installation and commissioning of solar pumps for farmers under government subsidy schemes.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Waaree Energies: India's largest solar module manufacturer with a sizeable EPC arm executing rooftop and utility-scale projects. Directly comparable product offering across industrial, commercial, and utility-scale EPC, with vertically integrated module supply that PickRenew lacks.
• Vikram Solar: Vertically integrated solar PV module manufacturer with an EPC division executing utility-scale and rooftop projects in India. Comparable on industrial and utility-scale EPC delivery, supported by captive module manufacturing.
• Sterling and Wilson Renewable Energy: One of India's largest solar EPC contractors executing utility-scale and large C&I projects globally. Comparable in EPC service delivery and O&M offerings but operating at a significantly larger project scale than PickRenew.
• Adani Solar: Solar PV manufacturer and EPC arm of the Adani Group with national and utility-scale project capability. Comparable across rooftop, commercial, and utility-scale EPC plus O&M, but with materially larger balance sheet and project pipeline.
• Tata Power Solar Systems: Largest Indian solar EPC player with national footprint and captive module manufacturing. Comparable in offering full-lifecycle rooftop, commercial, and utility-scale solar EPC plus O&M, but at materially larger scale and with broader geographic reach than PickRenew.

Emerging players

• Freyr Energy: India-focused residential and small commercial rooftop solar installer with subscription-style offerings. Comparable in residential and SMB rooftop solar go-to-market, including subsidy processing, though smaller in industrial-scale EPC than PickRenew.
• Loom Solar: D2C and dealer-driven solar rooftop player in India focused on residential and small commercial segments. Comparable in residential rooftop delivery and subsidy navigation, though operating primarily through online and dealer channels rather than PickRenew's enterprise field-sales motion.

Direct peers

• Gensol Engineering: Indian solar EPC and RESCO developer focused on C&I rooftop and ground-mounted solar with a strong recurring-revenue RESCO model. Highly comparable to PickRenew across CAPEX, RESCO, and PPA offerings, with overlapping target customers and similar execution scale.
• Insolation Energy: India-based solar EPC and module manufacturer focused on rooftop and small-to-mid-scale utility projects. Closely comparable offering to PickRenew's industrial and commercial rooftop focus, with similar scale and customer profile.
• Fourth Partner Energy (Fourth Energy): India-focused C&I solar EPC and RESCO developer with a national portfolio of rooftop and open-access solar assets. Closely comparable business model (own-asset RESCO plus EPC) and customer base to PickRenew's C&I and PPA segments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Pickrenewenergyltd
• LinkedInlinkedin.com/company/pickrenew
• Instagraminstagram.com/pickrenewenergy
• Pinterestin.pinterest.com/pickrenewenergy

Revenue estimate

Valuation estimate

Number of profiles

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 Pickrenew Energy Pvt. Ltd.