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Roofsol Energy Secures 17 MWp Rooftop Solar PPA with Foxconn to Power Bengaluru Manufacturing Facility

Roofsol Energy has signed a 17 MWp rooftop solar Power Purchase Agreement (PPA) with electronics manufacturing giant Foxconn to develop a large-scale rooftop solar project at the company's manufacturing facility in Bengaluru. The project is aimed at increasing the use of renewable energy in industrial operations while supporting Foxconn's decarbonisation and sustainability objectives.

The solar installation will be developed under the OPEX (Operating Expenditure) or PPA model, allowing Foxconn to procure clean electricity without making an upfront capital investment. Under this arrangement, Roofsol Energy will own, operate, and maintain the rooftop solar system, while Foxconn will purchase the electricity generated through a long-term power purchase agreement. The model has become increasingly popular among commercial and industrial (C&I) consumers as it enables businesses to reduce electricity costs and lower carbon emissions with minimal financial risk.

Roofsol Energy stated that the project will be financed through a combination of equity and debt. The company has provided the equity investment, while debt financing has been arranged through Aseem Infrastructure Finance Limited, which has been actively supporting renewable energy and sustainable infrastructure projects across India.

Commenting on the development, Roofsol Energy said it remains focused on expanding its renewable energy portfolio in the commercial and industrial segment. The company has set a target of investing in 200 MWp of rooftop solar assets during FY 2026–27, with more than 50 MWp of projects already signed and currently under execution. The Foxconn project represents one of the company's significant additions to its growing portfolio of industrial solar installations.

The agreement follows another major financing milestone for Roofsol Energy. In the previous month, the company secured Rs260 crore in funding from Aseem Infrastructure Finance Limited to develop multiple solar Independent Power Producer (IPP) projects. These include rooftop solar installations for JK Tyre & Industries Limited and an additional 100 MWp of commercial and industrial solar capacity across India.

The commercial and industrial (C&I) sector has emerged as one of the fastest-growing segments of India's solar market, driven by rising electricity tariffs, corporate sustainability commitments, and the need to reduce dependence on conventional grid power. Rooftop solar projects under the PPA model allow industries to secure predictable long-term energy costs while contributing to national renewable energy goals without significant capital expenditure.

Foxconn, formally known as Hon Hai Precision Industry Co., Ltd., is one of the world's largest electronics manufacturing companies and a major global supplier for leading consumer technology brands. As electronics manufacturers increasingly adopt renewable energy to meet environmental, social, and governance (ESG) commitments, rooftop solar installations are becoming an important part of sustainable manufacturing strategies.

India's rooftop solar market is also expected to witness continued growth as the country works toward its target of 500 GW of non-fossil fuel-based installed electricity capacity by 2030. Large-scale industrial rooftop projects not only help businesses reduce operational emissions but also strengthen distributed renewable energy generation, improve grid efficiency, and support India's broader transition to a low-carbon economy.