Aerem Solutions Acquires Spinkraft Ventures to Form India’s First Full-Stack Solar Platform

Aerem Solutions Private Limited, an end-to-end platform for distributed solar solutions has announced the acquisition of Spinkraft Ventures Private Limited, a distributor of solar equipment. 

The deal, which encompasses the entire Spinkraft Ventures company, was finalized with the goal of creating India's only comprehensive platform for solar energy.

Spinkraft Ventures, founded in 2021 by Pravesh Bhargava, Ajay Patel, and Acharan Chandel, brings its sales and distribution network to Aerem’s portfolio. 

This acquisition allows Aerem to offer an all-encompassing solution for solar energy needs at competitive prices. In turn, Spinkraft will benefit from Aerem’s advanced solar platform, access to growth capital, and established operational frameworks, which will aid in scaling the business.

Aerem’s expanded platform now supports the entire solar value chain, including OEMs, distributors, suppliers, EPCs, end customers (both business and residential), and financial institutions. This approach aims to advance India’s solar energy adoption goals.

Anand Jain, CEO of Aerem Solutions, expressed his excitement about the acquisition stating, “We warmly welcome Pravesh Bhargava, Acharan Chandel and the entire Spinkraft team to Aerem. With the combined strength of Aerem and Spinkraft, we are poised to accelerate adoption of Solar and are thrilled about the opportunities and value addition this combined entity will bring to our stakeholders. We look forward to a bright future together.”

The founders of Spinkraft also conveyed their optimism stating, “This is a great platform for us to take flight towards our next goal and joint capabilities of Aerem and Spinkraft will revolutionize the solar market. This is also a great opportunity for rest of the team members to learn and develop themselves as future leaders."