Solar91 Cleantech Ltd IPO

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Solar91 Cleantech Limited, incorporated on October 7, 2015, is primarily engaged in providing Engineering, Procurement, and Construction (EPC) services for solar energy solutions, with a focus on serving commercial and industrial customers. The company develops and maintains both grid-connected and off-grid solar power projects. It initially operated under the EPC model, where customers, typically from the agro-processing and textile industries, invested in solar projects. The company has since expanded its operations to include the Independent Power Producer (IPP) model, where it develops and owns solar power plants, generating revenue by selling electricity through Power Purchase Agreements (PPAs) with electricity distribution companies (Discoms). Additionally, Solar91 is focusing on integrating solar energy with agriculture, especially through initiatives like the PM Kusum Scheme, which supports farmers by providing decentralized solar power solutions. The company established a solid presence in India, with operations spanning across 13 states, and has even expanded internationally with a project in Kenya.