| Solar EPC and Installation | Design, supply, installation, commissioning of solar power plants | Strong execution track record, government empanelments, wide geographic presence | Industrial, commercial, government, residential (B2B and B2C) | Rooftop solar installations and advanced hybrid systems | 315 | 77 | Project contracts, installation fees, and O&M services | Project-based billing, service contracts | Government solar incentives, declining costs, rising industrial adoption | Ground-mounted solar projects, rooftop solar systems |
| Independent Power Producer (IPP) Solar Generation | Solar power generation selling to utilities and clients | Annuity-style revenue with stable cash flows, early mover advantage in decentralized solar | Utility companies, government distributors (B2B) | Projects with high internal rate of return | 3 | 1 | Power purchase agreements (PPAs) providing recurring revenue | Long-term power sale contracts | Government subsidies, renewable energy mandates, predictable cash flows | Decentralized solar power sites under PM-KUSUM scheme |
| Solar Product Distribution and Ancillary Systems | Distribution and integration of solar energy products | Partnerships with key manufacturers, focus on emerging technologies | Residential, commercial, industrial clients (B2B and B2C) | Energy storage systems and hybrid solar solutions | 89 | 22 | Sales and service fees | Direct sales, service contracts | Rising adoption of solar products and energy storage | Solar water heaters, batteries, BESS systems |
