Pune: Mahindra Solarize is positioning itself for significant growth, aiming to capture a top spot in Pune’s burgeoning rooftop solar market.

The company is targeting an annual growth rate of 20-25%, driven by its high-quality rooftop solar installations, a strong network of partners, and excellence across sales, service, and spare parts.

The government's PM Suryaghar Muft Bijli Yojana, introduced in this year's budget, is expected to provide additional growth opportunities for the rooftop solar market.

Under the scheme, solar rooftop systems will be installed in 10 million households, with up to 300 units of electricity provided for free. This rollout of rooftop solar systems is a significant move towards powering homes and small businesses with sustainable energy, offering further growth potential for Mahindra Solarize.

To meet increasing market demand while maintaining a focus on quality and service, Mahindra Solarize plans to double its workforce by the end of FY25. The company’s goal is to secure a top 3 ranking in the national rooftop solar market, with Pune as a key area of focus.

Hemant Sikka, President of Mahindra & Mahindra’s Farm Equipment Sector, noted, “The rooftop solar segment holds tremendous potential, but rapid scaling comes with its challenges.

By leveraging Mahindra's strengths, extensive experience, and vast partner network, we are well-positioned to make substantial inroads in the Pune market.”

Sikka further pointed out the fragmented nature of the rooftop solar sector and predicted that within the next 2-3 years, only a few players with strong capabilities will rise to prominence as customers increasingly prioritize high-quality solar systems.

Mahindra Solarize plans to stand out by focusing on reliability, quality, and customer-centric services, supporting its goal of sustained 20-25% annual growth.

According to the latest MERCOM report, India’s total installed solar capacity stands at 87 GW, with rooftop solar contributing 13% (approximately 11 GW).