Roofsol Energy Raises ?255 Million to Boost Rooftop Solar Growth
POWER & RENEWABLE ENERGY

Roofsol Energy Raises ?255 Million to Boost Rooftop Solar Growth

Maharashtra-based Roofsol Energy has secured ?255 million (~$3.03 million) in its first equity funding round, primarily from high-net-worth individuals (HNIs) and led by fund manager Equity4life IH Analytics.

The company plans to use these funds to expand its OPEX business and strengthen its presence in the commercial and industrial (C&I) solar portfolio. Recently, Roofsol signed power purchase agreements with several large C&I clients to initiate solar power projects.

“This equity round reinforces our commitment to growth. We aim to develop 75 MW of solar assets in FY 2024, with a target of 500 MW in the C&I sector,” stated Priyank Jain, CFO of Roofsol Energy.

Roofsol has been recognized in Mercom’s India Solar Market Leaderboard 2024 as one of the leading rooftop solar companies. In 2023, India added 1.7 GW of rooftop solar capacity, reaching a cumulative total of 10.5 GW by December. Residential installations constituted 50.5% of this capacity, with Tata Power Solar leading the way, followed closely by Roofsol, which accounted for 7.9% of the year’s additions.

According to Anurag Chivilkar, Director & VP—Business Development, demand for rooftop solar in the C&I sector is driven not only by cost savings but also by investor pressure to meet green energy standards.

Currently, Roofsol Energy has over 300 solar projects and 280 MW of rooftop installations in India. The company aims to implement over 1000 MW of solar EPC projects globally by 2025.

Maharashtra-based Roofsol Energy has secured ?255 million (~$3.03 million) in its first equity funding round, primarily from high-net-worth individuals (HNIs) and led by fund manager Equity4life IH Analytics. The company plans to use these funds to expand its OPEX business and strengthen its presence in the commercial and industrial (C&I) solar portfolio. Recently, Roofsol signed power purchase agreements with several large C&I clients to initiate solar power projects. “This equity round reinforces our commitment to growth. We aim to develop 75 MW of solar assets in FY 2024, with a target of 500 MW in the C&I sector,” stated Priyank Jain, CFO of Roofsol Energy. Roofsol has been recognized in Mercom’s India Solar Market Leaderboard 2024 as one of the leading rooftop solar companies. In 2023, India added 1.7 GW of rooftop solar capacity, reaching a cumulative total of 10.5 GW by December. Residential installations constituted 50.5% of this capacity, with Tata Power Solar leading the way, followed closely by Roofsol, which accounted for 7.9% of the year’s additions. According to Anurag Chivilkar, Director & VP—Business Development, demand for rooftop solar in the C&I sector is driven not only by cost savings but also by investor pressure to meet green energy standards. Currently, Roofsol Energy has over 300 solar projects and 280 MW of rooftop installations in India. The company aims to implement over 1000 MW of solar EPC projects globally by 2025.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code