Indian Prime Minister Narendra Modi has announced the Pradhan Mantri Suryodaya Yojana scheme, under which 10 million households could install rooftop solar. The program will reduce electricity bills for the poor and middle class, while also making India self-reliant in the field of energy.

“The first decision I have taken after returning from Ayodhya is that our government will launch ‘Pradhanmantri Suryodaya Yojana,’ with the target of installing rooftop solar,” said Modi after returning from Ayodhya, Uttar Pradesh, where he addressed a gathering ar the consecration ceremony for the newly built Shri Ram Janmbhoomi Mandir.

“This will not only reduce the electricity bill of the poor and middle class but will also make India self-reliant in the field of energy.”

Here are some stocks to benefit from new Solar Roof scheme:

1. Waaree Renewables

Waaree Renewable Technologies Ltd. engages in the generation of power through renewable energy resources. The company is headquartered in Mumbai, Maharashtra and currently employs 92 full-time employees. The company went IPO on 2012-08-09. The firm is engaged in the solar EPC business, and generation of power through renewable energy sources. The company is also a solar developer that finances, constructs, owns, and operates solar projects. The company provides clean energy to its clients by setting up both on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open-access solar plants). The firm’s solutions and services include rooftop solar, floating solar, ground-mounted solar, capex model, renewable energy service company (RESCO) model, and operations and maintenance. The floating solar solution utilizes water bodies like lakes, ponds, and reservoirs for solar panel installation. In the RESCO model, the Company assumes control of all aspects of a rooftop solar project development – installation, financing, operation and ownership.

2. Tata Power Company

Tata Power Co., Ltd. engages in the provision of power supply and transmission charges. The company is headquartered in Mumbai, Maharashtra and currently employs 3,071 full-time employees. The principal business of the Company is generation, transmission and distribution of electricity. The Company’s segments include Generation, Renewables, Transmission and Distribution, and Others. The Generation segment comprises generation of power from hydroelectric sources and thermal sources (coal, gas and oil) from plants owned and operated under lease arrangement and related ancillary services. The Renewables segment comprises of generation of power from renewable energy sources, such as wind and solar. The Transmission and Distribution segment includes transmission and distribution network, sale of power to retail customers through distribution network and related ancillary services. The company also comprises of power trading business. The Others segment includes project management contracts/infrastructure management services, property development, lease rent of oil tanks and satellite communication.

3. Surana Solar

Surana Solar Ltd. engages in the manufacture and sale of solar products and generation of wind electricity. The company is headquartered in Secunderabad, Telangana and currently employs 36 full-time employees. The company went IPO on 2011-01-06. The firm is engaged in the business of manufacturing of solar photovoltaic (SPV) modules, generation of wind and solar power energy, and trading of other solar related products. The firm is also into engineering, procurement and construction (EPC) of power projects on turnkey basis on megawatt (MW) scale. The firm has two segments. Solar Products segment is engaged in manufacturing and trading of SPV modules. Wind Power segment is engaged in generation of wind power and solar power energy. The company has four Grid Connected Solar Power Plants commissioned in Gujarat and Telangana of five MW each. The Company’s products offering includes photovoltaic (PV) modules, solar lighting and solar lanterns. Its projects include Charnaka Solar Park; Munnipally, Medak DT. ; Shankapur, Medak DT. ; and Pedumental, RR Dist.

4. Borosil Ltd

Borosil Ltd. manufactures and supplies glassware products. The company is headquartered in Mumbai, Maharashtra and currently employs 881 full-time employees. The company went IPO on 2020-07-22. The firm operates through two segments: Consumer Products (CP) and Scientific & Industrial Products (SIP). The CP segment is engaged in the business of microwavable and flameproof kitchenware, glass tumblers, hydra bottles, tableware and dinnerware, appliances, storage products, steel serve fresh and more. The SIP segment is engaged in the business of laboratory glassware, instruments, liquid handling systems, explosion proof glassware and more. The company has two manufacturing facilities, one situated in Bharuch, Gujarat and the other situated in Jaipur, Rajasthan. The Jaipur manufacturing facility is exclusively dedicated to the CP division, while the Bharuch manufacturing facility, primarily a SIP division facility, also manufactures some borosilicate glass products such as mugs, bottles, jars, glass tumblers and other consumer glass ware items.

5. Sterling & Wilson Solar

Sterling & Wilson Renewable Energy Ltd. provides solar engineering, procurement and construction (EPC) solutions. The company is headquartered in Mumbai, Maharashtra and currently employs 806 full-time employees. The company went IPO on 2019-08-20. The company provides EPC services primarily for utility-scale solar power projects with a focus on project design and engineering and manages all aspects of project execution from conceptualizing to commissioning. The firm also provides operations and maintenance (O&M) services, including for projects constructed by third parties. Its segments include EPC and O&M. Its EPC segment provides a complete range of EPC solutions and end-to-end services and has an EPC portfolio of about 14.7 GWp and operates across India, Africa, the Middle East, Australia, and Latin America. Its O&M segment provides services to EPC projects and third-party customers. Primarily, its customers are independent power producers (IPPs), developers and equity funds. The company has a presence across 29 countries with operations in India, Southeast Asia, and others.

6. Servotech Power Systems

Servotech Power Systems Ltd is a IN-based company operating in industry. The company is headquartered in New Delhi, Delhi and currently employs 251 full-time employees. The company went IPO on 2017-08-24. Servotech Power Systems Limited is an India-based company engaged in the end-to-end manufacturing, procurement and distribution of a range of advanced solar products, medical devices as well as energy-efficient lighting solutions. The firm is engaged in the various projects wherein the Company has installed solar panels for charging of batteries and photovoltaic (PV) ports. In addition, the Company is engaged in manufacturing of solar invertors. The firm’s products include Electric Vehicle (EV) Charger, Light Emitting Diodes (LEDs), Power and Backup, Solar Products and others. Its EV Charger includes Spark Series (AC Charger) and Squad Series (DC Charger). The company offers both domestic and commercial LEDs. Its Power and Backup products include batteries, servo stabilizers and uninterrupted power supply (UPS). Its Solar Products include solar panels, solar batteries, solar management unit, servport and PCU. Its other products are oxygen concentrators and ultraviolet-C (UVC) lamps.

7. Websol Energy

Websol Energy System Ltd. engages in the business of manufacturing photo-voltaic mono-crystalline solar cells and modules. The company is headquartered in Kolkata, West Bengal and currently employs 225 full-time employees. The firm operates through the manufacturing of Solar Photo-Voltaic Cells and Modules segment. The Company’s products include Multi Crystalline 4BB PV Solar Cell, Mono Crystalline 5BB PV Solar Cell, Multi Crystalline 5BB PV Solar Cell, W2900 Mono Crystalline SPV MODULE, W2900M Multi Crystalline SPV MODULE and W2300M Multi Crystalline SPV MODULE. Its product ranges from 10 watt to 350 watt caters to needs ranging from rural electrification to big power plants. The Company’s products are used in commercial and industrial establishments in India and abroad. Its manufacturing capacity comprises approximately 1.8 gigawatt (GW) Bi-Facial Mono Passivated Emitter and Rear Contact (PERC) photovoltaic (PV) cells and module. The Company’s facility is located in Falta SEZ, Sector-II, Falta, West Bengal.


Overall, the new solar rooftop scheme has the potential to be a game-changer for India’s solar sector and contribute to a more sustainable future.