Mumbai Clean Energy Firm Secures 24 Million Dollars to Power Green Growth
Mumbai-based clean energy player has secured $24 million in fresh capital to scale its distributed solar energy operations across India and South Africa. The funding—raised from existing global investors—will fuel deeper market penetration, product innovation, and support for commercial and industrial users looking to reduce emissions and energy costs. With 132 MWp installed across 165 sites and rising investor confidence, the firm is positioning itself as a long-term partner in emerging market energy transition efforts.
The $24 million infusion comes at a time when India’s urban centres are striving to meet sustainability goals while grappling with power supply gaps. The capital includes a $20 million convertible loan and a $4 million mezzanine top-up, bringing the company’s total raised to over $140 million. The clean energy provider, operating across 22 Indian states and union territories, offers solar solutions tailored for commercial and industrial (C&I) entities—sectors often burdened by high grid tariffs and power interruptions. In a market increasingly defined by demand for decentralised power, the company’s rooftop and open-access projects are helping redefine the value proposition of solar beyond just cost savings. Among its clients are major manufacturers and retail chains that rely on predictable energy to power operations and supply chains. The solar developer’s portfolio includes notable projects such as a 16.5 MW plant in Gujarat and a 20 MW site in Chhattisgarh—both symbolic of India’s broader push for clean energy leadership.
Its performance-based model ensures that system uptime and output—not just installation metrics—drive long-term value. Advanced monitoring tools, automated fault detection, and lifecycle support services give clients operational transparency and peace of mind. The firm’s recent innovation lies in its “Solar Refi” and “Solar Protect+” offerings. These services allow asset owners to refinance operational solar systems while transferring performance risk and O&M responsibilities to the provider. This approach reduces capital lock-in and boosts trust among small and mid-sized businesses wary of system inefficiencies. Such offerings are vital in markets like India, where SME adoption of green technologies remains cautious due to financing, reliability, and awareness gaps. By integrating financial engineering with deep technical management, the company bridges that trust deficit.
Investors see this round as a validation of the firm’s hybrid model—one that delivers on sustainability goals while meeting commercial performance standards. Its trajectory is setting the stage for a significant Series D round in 2026, aimed at accelerating the green transition in urban and semi-urban centres alike. With India pushing for 500 GW of non-fossil capacity by 2030, distributed solar solutions like these are poised to play a pivotal role in the country’s decentralised, just, and inclusive energy journey.
As Indian cities inch toward net-zero ambitions, the need for distributed, dependable, and scalable clean power becomes more urgent. Companies that offer holistic solutions—blending capital access with operational accountability—will likely emerge as catalysts in shaping greener urban futures. With strong institutional support, expanding impact across sectors, and a financing model that shares risks and rewards, this Mumbai-based solar firm is not only changing how power is generated, but how it is delivered and trusted across India’s evolving economic landscape.
