Sunkind India is launching agrivoltaic projects across Rajasthan, Odisha, and Uttar Pradesh to integrate solar energy with farming. This move shifts the firm toward long-term project partnerships, adding a new dimension to its business model ahead of its planned public listing.
Sunkind India Limited is pivoting its business strategy by venturing into agrivoltaic projects, a model that combines solar energy generation with agricultural production. By setting up solar infrastructure above farmland, the Gurugram-based firm aims to offer farmers a dual source of income while optimizing land use. The company is in negotiations to develop these projects across Rajasthan, Odisha, and Uttar Pradesh, marking a transition from being a supplier of solar structures to a comprehensive project partner.
Integrating Solar with Agriculture
Agrivoltaics involves installing solar panels at a height that allows crops to grow underneath. This approach addresses land-use concerns often associated with large-scale solar plants. For farmers, this integration creates a potential steady income stream through land leases or direct involvement in solar energy generation. The initiative also aims to utilize water required for cleaning solar panels to support irrigation, potentially lowering operational costs for farmers. The company plans to leverage government-backed frameworks like the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM Kusum) scheme to provide farmers with long-term, predictable income over 25 to 30 years.
Business Expansion and Context
This move comes as Sunkind expands its broader renewable energy capabilities. As of July 2026, the company secured approximately 250 MWp of distributed open-access solar EPC orders in states including Chhattisgarh, Uttar Pradesh, Haryana, Punjab, and Tamil Nadu. To support this growth, the firm is also setting up a 1 GW solar module manufacturing facility in Jaipur, Rajasthan. This vertical integration is intended to reduce dependency on external supply chains and manage project costs more effectively.
Execution and Regulatory Factors
While the expansion into agrivoltaics and manufacturing aims to diversify revenue, it introduces new operational challenges. Moving from supplying structures to executing full-scale solar projects requires significant capital and operational oversight. Additionally, the success of the PM Kusum-linked model remains dependent on consistent government policy and the efficient implementation of energy-agriculture frameworks.
The company’s strategic planning is occurring as it prepares for its future in the capital markets. Sunkind India received approval for an initial public offering (IPO) in February 2026, though the company remains an unlisted entity. Investors interested in the company’s progress should monitor the commissioning timelines for the new Jaipur manufacturing plant and the successful execution of its recently acquired 250 MWp project pipeline. The long-term scalability of the agrivoltaic model will also depend on the company's ability to build trust with landowners and manage the complexities of dual-use land projects.