SolarSquare, a leader in residential solar solutions in India with more than 10,000 residential rooftop solar power plants across the country, has announced its strategic acquisition of PV Diagnostics (PVD), a company renowned for its expertise in the utility-scale solar power sector. This acquisition marks a significant step in SolarSquare’s mission to enhance the quality of residential solar installations across the country. This transition will involve leveraging PVD’s expertise in best quality module sourcing, diagnostics and technology stack to ensure best quality and long-lasting residential solar installations.
PV Diagnostics brings to the table an impressive industry experience of 8 GW, having worked with leading renewable developers like Tata Power, Adani, Renew Power, and many others. The founders of PV Diagnostics include solar industry veteran Mr. Prakash Suratkar and Pranav Maheshwari, Atul Kumar Jain, and Ayush Mahajan, all three of whom are alumni of IIT Bombay. The team’s expertise extends to advising multiple private equities in significant solar portfolio acquisitions across the country.
This integration of utility-scale proficiency with SolarSquare’s innovative residential solar solutions promises to set new benchmarks in the quality and performance of home solar installations.
PV Diagnostics will maintain its commitment to the utility-scale solar market, continuing to offer its existing services post-acquisition.
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Statement
Mr. Prakash Suratkar, CEO of PV Diagnostics, shared his thoughts on the acquisition: “Joining forces with SolarSquare is not just a strategic decision but also a move inspired by the quality mindset of SolarSquare’s founders. Their dedication to excellence and consumer-centric approach resonated deeply with us at PVD. This inspiration has been a driving force in our decision to unite with SolarSquare, and we are excited to bring our utility-scale expertise to the residential solar market.”
Shreya Mishra, CEO of SolarSquare, expressed her vision for the collaboration: “The acquisition of PV Diagnostics is a pivotal move towards our goal of building top-tier, consumer-centric solar solutions. PVD’s experience in ensuring the highest quality standards in large-scale solar projects will be very useful in elevating our residential offerings. Together, we aim to redefine the solar landscape in India.”
About SolarSquare
SolarSquare stands at the forefront of the residential solar revolution in India, committed to delivering high-quality, affordable, and sustainable solar solutions. Their innovative approach, including cyclone-proof solar systems and easy financing options, has made solar energy accessible to a wider audience. SolarSquare is a proud installer of solar power plants at more than 10,000 houses across India, marking a significant milestone as the first and only company in India to achieve this feat. For more information, visit SolarSquare’s website.
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About PV Diagnostics
PV Diagnostics is a leading consultancy in the solar industry, offering a range of services across the PV value chain. With a focus on performance improvement and economic benefit, their team of experts has been instrumental in optimizing solar power plants in India and abroad. For more information, visit PV Diagnostics’ website.
