Fujiyama Power Systems Limited, originally incorporated as a private limited company on November 29, 2017, transitioned to a public limited entity on November 20, 2024. The company specializes in manufacturing solar energy solutions, including solar panels, solar batteries, solar inverters, lithium-ion batteries, and related products. With three operational manufacturing units and a strong focus on capacity expansion, Fujiyama Power Systems is positioned as a prominent player in India’s renewable energy sector.
The company's roots trace back to 1996, when Pawan Kumar Garg established a sole proprietorship under the trade name UTL Electronics. In 2008, a partnership firm named Fujiyama Power Systems was formed, which later evolved into the current company. Fujiyama pioneered the production of high-frequency online UPS and inverters in India by 2010 and ventured into solar PCU manufacturing in 2012, followed by online solar PCUs in 2014.
The business underwent significant growth post-2018, expanding production capabilities across its plants. Notable milestones include the establishment of solar panel manufacturing and lithium-ion battery units in FY21, followed by significant capacity additions at its Greater Noida and Bawal facilities from 2022 to 2023. These expansions enhanced the company's solar panel production capacity to 200 MW annually and battery production to over 340,000 units per annum.
Fujiyama Power Systems Limited is now preparing for an Initial Public Offering (IPO) to raise Rs. 700 crore through fresh equity issuance and offer for sale of 20 million equity shares. The funds will likely support further expansion and development, strengthening its market position in the growing renewable energy industry.
