Agastya Energy Industries

What Agastya Energy Industries does

Agastya Energy Industries Pvt. Ltd. is an India-based solar energy company founded in 2024 as a subsidiary of the diversified BN Group conglomerate, headquartered in Noida, Uttar Pradesh. It designs and sells a portfolio of branded solar photovoltaic modules across five series — Suryastra (N-Type HJT bifacial, 700W–725W, 23.3% efficiency), Tejas (monocrystalline, 450W–600W), Surya Mini (residential, 300W–400W), Agni (heat-resistant, 500W–650W), and Vayu (flexible/wind-resistant, 200W–350W) — alongside planned in-house TOPCon solar cell and module manufacturing at a 5 GW facility in Kurnool, Andhra Pradesh, targeted for module-line commissioning in 2026 and cell-line commissioning in 2027.

The company monetizes through three primary streams: hardware sales of cells and modules (planned, capacity 5 GW across two phases, with cells rated up to 25% efficiency), EPC services for utility-scale and commercial solar parks (anchored by a 75 MWp KUSUM contract with UPNEDA in Uttar Pradesh and a 100 MW commercial solar park in Gandhidham, Gujarat), and recurring O&M plus rooftop installation services across residential, commercial & industrial, agricultural/rural, and utility-scale customer segments. Go-to-market is primarily enterprise field-sales for large EPC deals, supplemented by direct rooftop installation services and an e-commerce storefront for smaller buyers.

Agastya reports 200+ MW of committed and installed capacity, a pan-India presence across four states, and a workforce in the 101–250 range. The company has raised approximately $422.85 million from the India Renewable Energy Development Agency (IREDA), which appears tied to funding its manufacturing buildout and EPC pipeline. Notable gaps in publicly available data include undisclosed revenue, limited named-customer visibility beyond two anchor contracts, and no AI/ML or software product offerings.

Name

Agastya Energy Industries

Legal name

Agastya Energy Industries Pvt. Ltd.

Website

https://agastyaenergy.in

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

101–250 employees

Short description

Agastya Energy Industries is an India-based solar EPC and planned module/cell manufacturer serving utility, commercial, residential, and rural customers with five branded PV product series and a 5 GW Kurnool manufacturing buildout.

Ownership category

akta.pro rank

Product category

Solar Energy Equipment Manufacturing

NAICS

Solar Electric Power Generation (221114)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)

akta.pro secondary industries

Solar PV Module Manufacturing (Cells, Modules, Thin-Film) (EUAMABAD), Solar Roofing & Roof-Mounted PV Systems (IMADAFAO), Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)

Keywords

• Solar panel manufacturing
• Solar EPC services
• Rooftop solar installation
• Renewable energy solutions
• Solar module production

Headquarters

HQ city

Noida

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Solar Module & Cell Manufacturing: Manufacturing of solar photovoltaic modules and cells with 5 GW capacity planned across two phases. Products include TOPCon technology solar cells (up to 25% efficiency) and modules (144 half-cut cells).
2. EPC Services: Engineering, Procurement, and Construction services for solar power plants including utility-scale projects (75 MWp KUSUM Project, 100 MW Commercial Solar Park) and rooftop installations.
3. O&M Services: Operations and Maintenance services for installed solar systems ensuring optimal performance and longevity.
4. Rooftop Installations: Installation services for residential, commercial, and industrial rooftop solar solutions.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Agastya Energy Industries designs, manufactures, and sells high-performance solar photovoltaic panels (Suryastra, Tejas, Surya Mini, Agni, and Vayu series) and TOPCon-based solar cells and modules, while delivering turnkey solar EPC, rooftop installation, and operations & maintenance services for utility-scale, commercial, industrial, and residential customers across India. The company is building a vertically integrated 5 GW cell-and-module manufacturing capability and has executed projects including a 75 MWp KUSUM scheme EPC project in Uttar Pradesh and a 100 MW commercial solar park in Gujarat.

Product overview

Agastya Energy Industries offers a portfolio of solar panel products across five series (Suryastra, Tejas, Surya Mini, Agni, and Vayu) designed for utility-scale, commercial, residential, extreme climate, and mobile applications. The company also manufactures Solar Cells and Solar Modules using TOPCon technology with 5 GW planned capacity. Services include Turnkey Solutions, Rooftop Installations, EPC Services, and O&M Services. The product lineup ranges from premium bifacial HJT panels (Suryastra, 700W-725W) to compact residential panels (Surya Mini, 300W-400W), with specialized variants for extreme heat (Agni) and high-wind conditions (Vayu).

Differentiator

Problem solved

Functional benefit

Brands

• Suryastra Series: Advanced N-Type HJT bifacial panels engineered for large-scale utility projects with exceptional performance. 700W - 725W, 23.3% Efficiency, Bifacial.
• Tejas Series
• Surya Mini
• Agni Series
• Vayu Series

Products and services

• Suryastra Series Solar Panels Advanced N-Type HJT bifacial solar panels engineered for large-scale utility projects. Power output 700W-725W, efficiency 23.3%, bifacial design for enhanced energy generation.
• Tejas Series Solar Panels High-performance monocrystalline solar panels designed for commercial and residential applications. Power output 450W-600W.
• Surya Mini Solar Panels Compact and efficient solar panels for residential installations and small-scale solutions. Power output 300W-400W.
• Agni Series Solar Panels High-temperature resistant solar panels designed for extreme climates with enhanced heat tolerance. Power output 500W-650W.
• Vayu Series Solar Panels Wind-resistant flexible solar panels ideal for mobile applications and high wind conditions. Power output 200W-350W, flexible mounting capability.
• Solar Cells TOPCon solar cells for module manufacturers and downstream solar projects. Planned capacity 5 GW across two phases, with efficiency up to 25%.
• Solar Modules TOPCon-based solar modules with 144 half-cut cells per module. Planned capacity 5 GW across two phases.
• Solar PV Manufacturing Service Integrated solar manufacturing service for both cells and modules, built with state-of-the-art technology to deliver vertically produced TOPCon PV components.
• Turnkey Solar Solutions Comprehensive solar energy solutions covering design, procurement, installation, and commissioning for utility, commercial, and residential customers.
• Rooftop Solar Installations Solar panel installation services for rooftop applications across residential, commercial, and industrial settings.
• EPC Services Engineering, Procurement, and Construction services for solar power projects, including utility-scale solar parks and government tenders.
• O&M Services Operations and maintenance services for solar power plants ensuring optimal performance and longevity.

Quantifiable outcome

• 23.3% Efficiency - Suryastra Series panels achieve industry-leading efficiency for large-scale utility projects
• +1 more outcomes

Named customers2 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

Feature7 records

Partnerships

One partnership is on record.

• UPNEDA (Uttar Pradesh New and Renewable Energy Development Agency)coreStrategic or Co-development Partner · 1 January 2025Partnership with UPNEDA for 75 MWp Solar EPC Project under the PM KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme. The project aims to deliver clean energy and sustainable irrigation solutions to rural India's farming communities, supporting agricultural productivity and renewable energy adoption in Uttar Pradesh.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Jakson Group: Jakson is an Indian EPC and solar module manufacturer with utility-scale and rooftop capabilities, including government-tied projects — comparable to Agastya's KUSUM and commercial EPC work.
• Adani Solar: Adani Solar is India's largest vertically integrated solar manufacturer and EPC provider, operating multi-GW cell and module capacity alongside utility-scale project execution — directly comparable to Agastya's stated cell/module + EPC strategy.
• Tata Power Solar Systems: Tata Power Solar is one of India's largest integrated solar EPC and module manufacturers, serving utility, commercial, and residential segments — a direct peer across Agastya's full product matrix.
• Vikram Solar: Vikram Solar manufactures high-efficiency modules (including TOPCon/HJT lines) and executes utility and rooftop EPC projects — directly comparable to Agastya's product portfolio and EPC service offering.
• Waaree Energies: Waaree is India's largest solar module manufacturer by capacity and an active EPC player, with TOPCon technology investments — comparable in manufacturing scale ambition and EPC footprint.

Emerging players

• Fourth Partner Energy: Fourth Partner Energy is an Indian distributed solar EPC company serving commercial and industrial customers via open access and rooftop — comparable to Agastya's commercial/industrial segment and Open Access Gujarat project.
• Loom Solar: Loom Solar focuses on residential and small commercial rooftop solar panels in India with direct-to-consumer distribution — comparable to Agastya's Surya Mini and Vayu product lines and rooftop installation services.
• RenewSys Solar: RenewSys manufactures solar PV cells and modules (including TOPCon) in India and supplies EPC installers — comparable to Agastya's planned cell/module manufacturing roadmap.

Broad incumbents

• Trina Solar: Trina Solar is a global TOPCon/HJT module manufacturing leader with significant Indian market presence — sets the technology benchmark Agastya's Suryastra and planned TOPCon cells are targeting.
• First Solar: First Solar is a global large-scale thin-film PV module manufacturer with utility-scale project presence in India — a broad incumbent setting cost and scale benchmarks relevant to Agastya's utility EPC ambitions.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

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 Agastya Energy Industries