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SolarSquare, a leading provider of residential solar solutions in India boasting over 10,000 installations nationwide, has announced its strategic acquisition of PV Diagnostics (PVD). Known for its expertise in the utility-scale solar power sector, PVD’s integration into SolarSquare marks a significant advancement in the company’s mission to elevate the quality of residential solar installations throughout the country.
The acquisition will see SolarSquare harnessing PVD’s extensive experience in best-quality module sourcing, diagnostics, and technology implementation, ensuring superior quality and longevity in residential solar setups. With an impressive industry track record of 8 GW, PV Diagnostics has collaborated with major renewable energy developers such as Tata Power, Adani, and Renew Power. Founded by solar industry veteran Prakash Suratkar along with Pranav Maheshwari, Atul Kumar Jain, and Ayush Mahajan, all alumni of IIT Bombay, the team at PVD brings invaluable expertise, including advisory roles in significant solar portfolio acquisitions by private equities nationwide.
This strategic integration promises to establish new standards in the quality and performance of home solar installations, combining utility-scale proficiency with SolarSquare’s innovative residential solar solutions. Despite the acquisition, PV Diagnostics remains committed to serving the utility-scale solar market, ensuring continuity in its existing services.
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.”
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By Proptechbuzz
By Ravi Kumar
