Renewable energy company Solaryaan has outlined an expansion strategy aimed at more than doubling its revenue to over Rs 400 crore in FY27 while investing Rs 150 crore to establish a lithium-ion battery manufacturing facility, as it broadens its presence across India's clean energy value chain.
The Mumbai-based company reported revenue of more than Rs 200 crore in the previous financial year and expects growth to be driven by product diversification, an expanded distribution network and rising demand for renewable energy technologies.
The company said its new growth strategy, branded "Solaryaan 2.0", marks a shift from being primarily a solar inverter manufacturer to becoming an integrated clean energy solutions provider. Its portfolio will expand to include grid-tied inverters, hybrid energy systems and Battery Energy Storage Systems (BESS), alongside its existing offerings.
A key component of the strategy is the proposed Rs 150 crore lithium-ion battery manufacturing facility, which is expected to support growing demand for energy storage as solar and wind power deployment accelerates. Solaryaan also plans to establish a cell manufacturing plant as part of its long-term roadmap, with an estimated investment of Rs 550 crore to Rs 600 crore.
The company said increasing adoption of rooftop solar and renewable energy by industrial, commercial and residential consumers is driving demand for advanced energy storage and hybrid power solutions. Battery storage is emerging as a critical technology to improve grid reliability and enable greater integration of renewable energy.
Looking beyond FY27, Solaryaan has set a revenue target of Rs 1,000 crore by FY29 and plans to expand its operations across more than 15 states. The company said its investments in battery manufacturing and integrated clean energy technologies are intended to support India's growing renewable energy market and strengthen domestic manufacturing capabilities. |
