India’s solar transformation is no more limited to industrial parks or urban rooftops. The change is now rooted deep within the country’s farmlands—thanks to the government’s visionary PM-KUSUM scheme. At the forefront of this rural energy revolution is Onix Renewable Limited, a company that’s quietly redefining how clean energy reaches India’s most underserved communities.
With over ₹10,800 crore in solar projects under execution, Onix is building India’s largest decentralized solar network under the KUSUM umbrella. These are not just infrastructure wins—they’re a blueprint for energy inclusion, financial empowerment, and rural sustainability. No wonder investors are keeping a close watch on the Onix Renewable Limited share price.
Understanding PM-KUSUM: Power to the Plough
The Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) was launched by the Ministry of New and Renewable Energy to solve a very specific challenge—India’s over-dependence on diesel and erratic grid electricity in farming.
Scheme Goals:
- Solarize agricultural power consumption across India
- Enable farmers to earn by selling surplus energy
- Reduce reliance on grid infrastructure in rural areas
- Accelerate India’s renewable energy goals at the grassroots
How It Works:
- Target Capacity: 34,800 MW by 2026–27
- Central Outlay: ₹34,422 crore
- Financing Mix: 60% subsidy: 30% institutional loan: 10% farmer contribution
This model ensures high affordability and low financial risk for rural farmers—while opening doors for private EPC players like Onix to scale their operations sustainably.
Onix: PM-KUSUM’s Execution Powerhouse
With a proven track record and strong execution capacity, Onix has become the leading private EPC contractor under PM-KUSUM. The company has secured over 370 solar projects across Maharashtra, Gujarat, and Rajasthan, accounting for more than 2,600 MW in capacity.
| State | Projects | Installed Capacity (MW) | Order Value (₹ Cr) |
|---|---|---|---|
| Maharashtra | 310 | 2,414 | ₹9,897 |
| Gujarat | 60 | 187 | ₹768 |
| Rajasthan (IPP) | 1 | 50 | ₹205 |
All projects are backed by long-term Power Purchase Agreements (PPAs), enabling predictable revenue streams with low credit risk. This consistent income flow has significantly boosted Onix’s financial outlook. For a closer look at its IPO positioning and investor confidence, read: What Makes Onix Renewable a Blue Chip in the Making.
How Onix Empowers Indian Farmers
Onix’s KUSUM-driven projects have a measurable impact on rural livelihoods beyond just energy access:
✅ Reliable and Clean Irrigation
Farmers are no longer dependent on diesel or erratic electricity supply. Solar pumps allow round-the-clock irrigation, improving both yield and cropping patterns.
✅ New Source of Income
By selling unused solar energy to the grid, farmers generate passive income—adding stability to their seasonal earnings.
✅ Climate Resilience
- No carbon emissions from solar-powered pumps
- Reduced input costs (no fuel)
- Zero maintenance burden with AMC plans provided by Onix
Each installation includes remote monitoring, predictive analytics, and lifetime service plans—making clean energy seamless and stress-free for the end user.
Why Investors Are Watching Onix Closely
Onix’s success under PM-KUSUM is not just about solar—it’s about building a high-growth, low-risk business model in one of India’s toughest markets. The company has turned government policy into an engine of recurring revenue. Here’s how:
- Over 65% of Onix’s ₹15,600 crore order book comes from PM-KUSUM projects.
- Its execution model covers EPC, solar panel supply, and long-term maintenance.
- Deep rural deployment capability is hard to replicate
Industry analysts are already calling Onix one of India’s fastest-scaling clean-tech players. If you’re exploring emerging renewable energy bets, check out our deeper dive: Onix Renewable: A Green Energy Giant in the Making.
Scaling Ahead: What’s Next for Onix
Onix has become a leader in rural solar projects under KUSUM — and it’s just getting started.:
- Next 2,500 MW under bidding in Maharashtra
- 250 MW in Gujarat nearing commissioning by early FY2026
- Expansion plans for Rajasthan, MP, and Karnataka underway
India plans to reach 500 GW of clean energy by 2030, making rural solar a key focus. Onix is not just supporting this goal—it’s helping lead the way.
Final Thoughts: More Than Just Solar
What makes the PM-KUSUM journey with Onix so compelling is that it delivers across multiple fronts—climate, economy, and community. By turning a subsidy-led policy into a sustainable business model, Onix is proving that clean energy can be inclusive, scalable, and profitable.
As interest grows around pre-IPO green-tech companies, the Onix Renewable Limited share price has become a key indicator of investor sentiment in India’s rural solar market.
To compare this with other major listings on the horizon, don’t miss our detailed IPO preview of Tata Capital IPO 2025.
Onix is not just building solar infrastructure—it’s building a resilient, renewable-powered rural economy.