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Mahindra Solar One becomes a Serious Player in the Indian Solar Energy Space

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Mahdindra Solar One a JV between India’s biggest conglomerates the Mahindra Group and a PE backed startup Kiran Energy is setting itself to become one of the biggest players in India’s Solar Energy.Mahindra Group which has dominant Indian companies in the Automobile Industry,Information Technology has set up 3 subsidiares to operate in the following segments

a) Solar EPC

b) Off Grid Solar Solutions

c) Solar Power Generation

Note the missing part of the play is the solar cell and module manufacturing which is not a good segment to operate it anyway.The other major Indian solar companies like Tata,Moser Baer and others are present in the solar manufacturing as well.This has proved to be a loss making sector for all of them with utilization running at abysmal levels.Some of the Indian solar panel companies are asking for more protection from the governemtn against cheap Chinese solar panel imports.

Mahindra Solar One plans

 Mahindra Solar One, a joint venture between the Mahindra Group and Kiran Energy, plans to invest 1,000 crore in solar power generation to build a capacity of 100 megawatts over the next two years, continuing the trend of large business houses investing heavily in the sector. On Monday, the company announced the commissioning of its first grid-connected solar power unit of 5 mw in Rajasthan. M&M has forayed into the renewable space through Mahindra Cleantech Ventures, which has set up three divisions – Mahindra Solar for power generation, Mahindra EPC for engineering of solar projects and Mahindra Off-grid solutions that offers rooftop setups for solar power generation. We are keen to look at other renewable sources of energy but over the next 3-5 years, our focus would be solar power,” Mahindra said.

Indian Solar Photovoltaic Companies

Moser Baer – This is primarily a Solar Panel Production Company which has recently made a big bet to get into the Power Production Space as well.Moser Baer Projects Private in which the Blackstone Group made a $300 million bet  has plans of a 20:80 mix of Green and Dirty Power.

Solar Semiconductor – A Producer of Solar Power Modules and Cells. It has some operations in Solar Installation as well.

These companies are similar to Solar Semiconductor in having a small capacity to produce silicon based solar cells or solar panels or both.


Topsun Solar

Titan Energy

PLG Power

Maharishi Solar

Kotak Urja


Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to

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