In an inspiring journey of grit and innovation, Gujarat-based solar startup Ksquare Energy has emerged as a shining example of profitable, bootstrapped entrepreneurship in India’s renewable energy sector. Launched in 2017 with a modest capital of just ₹15,000, Ksquare Energy has grown into a formidable player, crossing ₹74 crore in revenue in the fiscal year 2023-24 and setting its sights on an ambitious ₹1,000 crore target by 2030.
The Humble Beginnings: A Vision Rooted in Empowerment
Founded by Kuldeep Sorathiya, an engineer from Amreli, Gujarat, Ksquare Energy was born out of a desire to tackle two pressing challenges: soaring electricity bills in urban areas and erratic power supply in rural regions, especially during scorching summers. Kuldeep’s vision was simple yet profound — to make solar energy accessible, affordable, and reliable for every Indian household.
Dual Business Model: Residential Rooftop Solutions & B2B Solar Supply
Ksquare Energy operates through two core verticals:
B2C Residential Rooftop Solar Projects: The company offers end-to-end solar rooftop installations under government initiatives like the PM Surya Ghar Muft Bijli Yojana, enabling homes to generate and even export surplus power.
B2B Solar Product Supply: Ksquare supplies a wide range of solar components — panels, inverters, cables, and custom-built distribution boxes — to over 1,500 EPC (Engineering, Procurement, and Construction) clients across 23 states.
This dual approach ensures a broad market reach while maintaining a strong focus on residential customers, where the company sees the most tangible impact.
The Secret Sauce: Tech-Enabled Service & Zero Loss Guarantee
Ksquare’s success is underpinned by a seamless, tech-driven customer experience. From pre-sales qualification and free site visits to government registration and swift installation, the process is designed for simplicity and reliability. A standout feature is their 5-year Zero Loss Guarantee — a pioneering promise in India that compensates customers if their solar system is down for more than 48 hours, reinforcing trust and accountability.
Bootstrapped Growth Story: A Timeline of Milestones
Ksquare Energy’s growth trajectory is a textbook example of bootstrapped success:
| Year | Revenue (₹ crore) | Key Highlights |
|---|---|---|
| 2017-18 | 0.25 | Started with 8 projects, solo founder |
| 2018-19 | 2.5 | Team of 4, 50+ projects completed |
| 2019-20 | 8 | 500+ projects, new Ahmedabad office |
| 2020-21 | 15 | 800+ projects, 25 employees, Pvt Ltd |
| 2021-22 | 35 | Expanded to multiple states |
| 2022-23 | 47 | 35 employees, new verticals |
| 2023-24 | 74 | 130 employees, rapid scaling |
The company plans to reach ₹225 crore revenue by 2025-26 and expand its workforce to 250, alongside opening new fulfillment centers to deepen market penetration.
Vision 2030: Lighting Up India, Creating Jobs
Ksquare Energy’s 2030 vision is bold and socially impactful. The company aims to:
Achieve ₹1,000 crore in annual revenue.
Establish a presence in every Indian state.
Set up eight fulfillment centers for faster service.
Deepen solar adoption in urban and rural households.
Double workforce annually to generate significant employment.
Kuldeep emphasizes that Ksquare is not just about providing power but empowering lives through energy and jobs.
Gujarat’s Growing Solar Ecosystem: Ksquare Among Emerging Leaders
Ksquare Energy’s success story is part of Gujarat’s larger solar renaissance. The state is witnessing rapid growth in solar manufacturing and project development:
Solarium Green Energy is setting up a ₹70 crore solar module manufacturing plant in Ahmedabad, aiming for ₹1,000 crore revenue by FY26 with advanced technology modules.
KPI Green Energy secured ₹272 crore funding for power projects, reporting ₹458 crore revenue in late 2024.
These developments highlight Gujarat’s strategic position as a solar manufacturing and deployment hub, with startups like Ksquare leading the charge on the ground.
Conclusion
Ksquare Energy’s journey from a ₹15,000 bootstrapped startup to a ₹74 crore revenue-generating solar company in just seven years is a testament to visionary leadership, customer-centric innovation, and relentless execution. With a clear roadmap to ₹1,000 crore by 2030 and a strong commitment to social impact, Ksquare is not just powering homes but also fueling India’s clean energy future and job creation.
FAQs
What is Ksquare Energy?
A Gujarat-based solar startup providing rooftop solar solutions and solar product supply to EPC companies across India.
Who founded Ksquare Energy?
Kuldeep Sorathiya, an engineer from Amreli, Gujarat, founded the company in 2017.
What makes Ksquare Energy unique?
Their 5-year Zero Loss Guarantee ensures customers are compensated if their solar system is down for more than 48 hours, a first in India.
How many states does Ksquare serve?
Ksquare supplies to over 1,500 EPC clients across 23 states, with a strong presence in Gujarat, Maharashtra, Madhya Pradesh, Rajasthan, and Uttar Pradesh.
What are Ksquare’s revenue goals?
From ₹74 crore in 2024, the company targets ₹225 crore by 2026 and ₹1,000 crore by 2030.