Polaris Renewable Solutions Private Limited

What Polaris Renewable Solutions Private Limited does

Polaris Renewable Solutions Private Limited is a solar EPC (Engineering, Procurement, and Construction) company headquartered in Nashik, Maharashtra, founded in 2015 (originally as Polaris Lighting Solutions before pivoting to renewables in 2016). The company designs, procures, and installs on-site rooftop and ground-mounted solar systems, as well as off-site solar and wind projects delivered through Open Access and Group Captive structures. It serves industrial facilities, hotels, corporate entities, and residential homeowners across five Indian states — Maharashtra, Gujarat, Haryana, Rajasthan, and Madhya Pradesh — and also offers solar-powered EV charging stations as an adjacent product line.

The company monetizes through seven distinct engagement models that bundle installation with financing: CAPEX (one-time sale with customer ownership), OPEX/RESCO (developer-owned, 15–25 year PPA), Captive/Open Access (corporate-owned off-site generation), Group Captive (co-investment with at least 26% consumer equity), Solar Loan (customer-owned with up to 5-year financing), Solar Lease (developer-owned, monthly recurring payments), and EV Charging stations. Go-to-market is sales-led and direct, targeting enterprises, hospitality, corporates, and homeowners through two offices (Nashik HQ and Gujarat), website-driven inbound, and educational content marketing.

As of 2024, Polaris reports 40+ MW of annual installation capacity (up from 24+ MW in 2022), cumulative installed capacity exceeding 32 MW across 550+ projects, 900+ clients, and 50+ employees and contractors. The company claims a top-3 ranking in Maharashtra for installed capacity and number of installations. It remains privately held and founder-led, with no disclosed institutional funding rounds.

Name

Polaris Renewable Solutions Private Limited

Legal name

Polaris Renewable Solution Private Limited

Website

https://polarisenergy.in

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Polaris Renewable Solutions is a Nashik-based solar EPC company founded in 2015 that designs, procures, and installs rooftop, ground-mounted, and off-site solar and wind systems for industries, hotels, corporates, and homeowners across five Indian states under CAPEX, OPEX, Captive, and Group Captive models.

Ownership category

akta.pro rank

Product category

Solar EPC Services

NAICS

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

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

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

Keywords

• Solar EPC services
• Renewable energy solutions
• Rooftop solar installation
• Solar financing
• EV charging infrastructure

Headquarters

HQ city

Nasik

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. CAPEX Model: One-time capital expenditure sale where customers invest in and own the solar/wind energy system. Consumer reaps full financial and energy benefits over the system's lifetime. Includes accelerated depreciation benefits for businesses.
2. OPEX/RESCO Model: Renewable Energy Service Company model where project is owned by developer and consumer pays only for energy produced. Consumer enters into Power Purchase Agreement (PPA) for fixed period (typically 15-25 years).
3. Captive (Open Access) Model: Corporate buyers fully own off-site solar/wind power generation assets located at remote sites. Energy generated is exclusively used by the corporate buyer for their own consumption. Buyer owns 100% of the asset and enters long-term PPA.
4. Group Captive Model: Multiple consumers co-invest with developer in renewable energy project. Consumers own at least 26% equity while developer handles construction, operation, and maintenance.
5. Solar Loan Financing: Financing model where customers borrow money to purchase solar panel system and repay over time (up to 5 years). Customer owns system from start and can benefit from tax credits and long-term savings.
6. Solar Lease: Property owners pay monthly fee to lease solar panels. Leasing company owns and maintains panels. Lease term typically up to 5 years with options to renew, purchase, or remove at end.
7. EV Charging Stations: Installation and provision of solar-powered EV charging stations for household and commercial use. Combines solar energy generation with electric vehicle charging infrastructure.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Polaris Renewable Solutions is a Solar EPC (Engineering, Procurement, and Construction) company that designs, procures, and installs on-site (rooftop and ground-mounted) and off-site (captive/open access) solar and wind energy systems. It delivers projects under multiple engagement models — CAPEX (customer-owned), OPEX/RESCO (pay-for-energy PPA), Captive, and Group Captive — and offers solar-powered EV charging stations, solar loans, and solar leases as supporting offerings.

Product overview

Polaris Renewable Solutions Private Limited is a Solar EPC (Engineering, Procurement, and Construction) company founded in 2015, offering comprehensive renewable energy solutions. The company provides multiple ownership and financing models for solar/wind energy systems: CAPEX (customer-owned rooftop/ground-mounted systems), CAPTIVE/Open Access (corporate-owned off-site generation), OPEX/RESCO (developer-owned pay-for-energy model), and Group Captive (co-investment with at least 26% consumer equity). Supporting services include EV Charging Stations, Solar Loans (customer-owned financing up to 5 years), and Solar Leases (developer-owned with terms up to 5 years). The company has executed 550+ projects with over 32 MW capacity across Maharashtra, Gujarat, Haryana, Rajasthan, and Madhya Pradesh.

Differentiator

Problem solved

Functional benefit

Products and services

• CAPEX (Capital Expenditure) Solar On-site rooftop and ground-mounted solar/wind system ownership model where the customer invests upfront and owns the asset, qualifying for accelerated depreciation, tax benefits, and long-term energy cost reductions with a typical payback period of 3-7 years.
• Captive (Open Access) Solar Off-site solar/wind ownership model where corporate buyers fully own a remote power-generating asset and use the electricity exclusively for their own consumption via the open access grid under a long-term Power Purchase Agreement.
• OPEX (Operational Expenditure) Solar RESCO (Renewable Energy Service Company) model where the developer owns the on-site or off-site solar/wind project and the consumer pays only for the energy produced, typically under a 15-25 year Power Purchase Agreement.
• Group Captive Solar Co-investment model where multiple consumers and a developer jointly invest in an off-site renewable energy project; consumers own at least 26% equity and receive tariffs lower than prevailing grid tariff rates, with the developer handling construction, operation, and maintenance.

Quantifiable outcome

• Offset up to 90% of power demand through clean and green energy
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Loom Solar: India-based solar EPC and panel manufacturer targeting residential and small commercial customers with both ownership and financing models. Comparable in residential solar focus and CAPEX/lease/loan model mix.
• Freyr Energy: Tech-enabled residential and small commercial solar EPC company operating across multiple Indian states. Comparable in customer segments (homeowners, SMBs), multi-state presence, and rooftop solar focus.
• Orb Energy: Bengaluru-based solar EPC and financing company serving commercial, industrial, and residential customers in India with CAPEX, lease, and loan models. Directly comparable offering and target segments to Polaris.
• CleanMax (Clean Max Enviro Energy Solutions): One of India's largest C&I solar EPC and PPA operators serving factories, data centers, and corporates with both CAPEX and OPEX/RESCO models. Direct competitor in C&I rooftop/open-access solar across India.
• Sunlit Renewables: India-focused solar EPC and renewable energy solutions provider serving industrial and commercial clients with rooftop and open-access offerings. Comparable scale and C&I orientation to Polaris.
• Fourth Partner Energy: Indian C&I-focused solar EPC and renewable energy services company offering CAPEX, OPEX/RESCO, and group captive models. Highly comparable in target customer (industries, corporates), revenue model mix, and geographic focus across multiple Indian states.

Broad incumbents

• Adani Solar: Vertically integrated solar manufacturing and EPC arm of the Adani Group, operating at massive utility and C&I scale across India. Represents the broader incumbent competitive threat Polaris faces as it scales.
• Azure Power: Indian solar IPP and EPC company historically focused on utility-scale and increasingly on C&I rooftop projects. Comparable in solar EPC and open-access solar PPA offerings but at significantly larger scale and with NYSE-listed history.
• Tata Power Solar Systems: Subsidiary of Tata Power and one of India's largest integrated solar EPC and module manufacturers. Competes broadly in rooftop and utility-scale solar, but with much larger scale, balance sheet, and brand reach than Polaris.
• Vikram Solar: Indian solar module manufacturer and EPC provider with utility-scale and C&I project execution capabilities. Comparable in solar EPC service offering though with much larger project scale and own-manufacturing advantage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/watch?v=2JNMGesMC2Y
• LinkedInlinkedin.com/company/polaris-renewable-solutions-pvt-ltd

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 Polaris Renewable Solutions Private Limited