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Aerem
Aerem Group was established in 2018, founded by former SunEdison and KPMG executive Anand Jain alongside a leadership team drawn from PwC, EY, Edelweiss,...
Aerem
Aerem Group was established in 2018, founded by former SunEdison and KPMG executive Anand Jain alongside a leadership team drawn from PwC, EY, Edelweiss, and ICICI. The firm operates as a holding structure for Aerem Solutions Private Limited, NetZero Finance Private Limited, and Sunstore Solar Private Limited. Its anchor entity, NetZero Finance, holds a Reserve Bank of India non-banking financial company license focused exclusively on solar lending — a regulatory distinction that sets it apart from fintech platforms that intermediate third-party credit. Aerem's strategy combines on-balance-sheet lending with a digital procurement marketplace (SunStore) and a SaaS monitoring product (AeROC). The credit book finances rooftop solar installations across residential, commercial, and industrial segments, as well as extending working-capital loans to solar engineering, procurement, and construction partners. The firm reports enabling over 350 MW of solar capacity via 300+ projects, channeling equipment through a network of 3,000 registered EPC vendors. No public portfolio-company disclosures exist, but the platform's stated reach spans India's major solar markets, including Maharashtra and Gujarat, through a digital application process that advertises loan approvals within 24 to 48 hours. A team of 150 professionals operates from the firm's Mumbai headquarters. The leadership group includes finance chief Vikesh Kumar, whose background encompasses PwC and APACFIN, and risk head Sriram Padmanabhan, who previously built underwriting models at ICICI and Edelweiss. May 2024: Aerem maintained its active capital deployment cycle through its RBI-licensed NBFC, continuing to originate solar loans for commercial and residential borrowers across India (per the firm, May 2024). The group integrates its proprietary Aerem Asset Assurance product for quality control, a design-services division for system engineering, and a unified mobile application that connects borrowers, EPCs, and equipment suppliers. The firm's regulatory architecture is its structural differentiator. Unlike solar fintechs that rely on bank partnerships to fund loans, Aerem controls its own RBI-licensed NBFC, NetZero Finance, allowing it to underwrite, fund, and hold solar credit risk on its own balance sheet. This captive credit engine, paired with an in-house equipment marketplace, creates a closed-loop model — Aerem lends to the end-borrower, supplies the solar hardware, and monitors the installed asset — giving it visibility across the entire project lifecycle that pure-play lenders or marketplaces cannot match.
General information
Firm type
Asset Manager
Year founded
2018
AUM
Undisclosed
Location
Region
Asia
Country
India
City
Mumbai
Corporate office
Ghatkopar (W), Mumbai 400086, India
Principals
Anand Jain
Executive Leadership
Vikesh Kumar
Executive Leadership
Nilesh Patel
Executive Leadership
Anupam Verma
Executive Leadership
Sector focus
Frequently asked questions
Who runs investment decisions at Aerem?
Credit and investment decisions are led by Anand Jain, who brings two decades of solar and financial-services experience from SunEdison, KPMG, and Barclays. He is supported by a risk team under Sriram Padmanabhan, whose prior underwriting roles at ICICI and Edelweiss shape Aerem's proprietary credit models. The firm's structure as an RBI-licensed NBFC means all lending decisions are subject to its internal credit committee and Indian banking regulation.
How does Aerem source its deal flow?
Aerem sources borrowers through a registered network of over 3,000 solar EPC partners whose installation projects are financed through the platform. The firm also operates a direct-to-borrower digital application that generates residential and SME leads. Its SunStore equipment marketplace serves as a third sourcing channel, bringing in EPCs that require both supply-chain financing and panel procurement.
Is Aerem structured as a venture firm or a lending institution?
Aerem is structured as an operating group with a lending institution at its core. Its subsidiary NetZero Finance is an RBI-licensed non-banking financial company dedicated to solar lending, making it a regulated credit provider rather than a venture capital or private equity firm. The group supplements lending with an equipment marketplace and SaaS monitoring platform, but its balance-sheet risk sits inside a licensed NBFC.
Does Aerem fund projects through external capital partners?
Aerem originates and funds loans through its own balance sheet via NetZero Finance, which is its wholly owned NBFC. While the firm's website displays logos of 'investors' and 'financing partners,' it does not publicly disclose specific fund structures or co-lending arrangements. The public documentation positions the firm as a direct lender rather than a marketplace that passes loans through to third-party capital providers.
What investment sectors does Aerem operate in?
Aerem concentrates exclusively on rooftop solar energy within India. Its lending, procurement, and monitoring activities cover residential, commercial, and industrial solar installations. The firm does not participate in utility-scale solar parks, wind energy, or other clean-energy verticals based on its current product disclosures.
How does Aerem manage credit risk on distributed solar assets?
The firm employs a proprietary underwriting framework developed by its risk team, drawing on the leadership's experience at ICICI, Edelweiss, and PwC. It layers in asset-quality oversight through its Aerem Asset Assurance product, which inspects installations, and uses its AeROC monitoring platform to track portfolio-wide asset performance. As an RBI-regulated NBFC, the firm must also comply with Indian non-performing asset recognition and capital adequacy norms.
What differentiates Aerem from other Indian solar finance companies?
Aerem is the only platform among Indian solar finance companies that holds its own RBI-licensed NBFC, allowing it to fund loans without dependence on partner banks. It pairs this captive credit capacity with an owned equipment procurement marketplace (SunStore) and a proprietary asset-monitoring SaaS (AeROC), giving it operational control over the financing, hardware supply, and ongoing performance of the solar assets it funds.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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