~Company to launch a 1GWh facility, expandable up to 5 GWh.

6th March, Kolkata: – Vikram Solar, one of India’s largest solar photo-voltaic (“PV”) module manufacturing company in India, plans to setup a 1GWh fully integrated Solid-state Cell and Battery manufacturing facility with proprietary Battery Management System (BMS) technology. This facility, initially designed to scale up to 5 GWh, is expected to cater to the growing energy demands of a rapidly evolving global market.

This venture by Vikram Solar is poised to contribute to the energy storage landscape by delivering sustainable, innovative battery solutions with improved performance. Vikram Solar’s experience in solar PV module manufacturing, amalgamated with solid-state battery technology, is expected to meaningfully contribute to a cleaner and greener future, drive technological advancements, and foster economic growth.

Mr. Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar shared, “Vikram Solar has always worked towards contributing to India’s renewable energy transformation and continues to drive large-scale solar adoption. Our solid-state batteries, developed and manufactured with majority components which are India-made, support ‘Atmanirbharta’ and align with India’s renewable energy and climate goals. Leveraging the technology of our partners, Entity2 Energy Storage Pvt ltd., which holds several patents for non-lithium solid-state battery technologies, we are committed to producing batteries that can be scaled up to meet the growing energy needs. As per CRISIL Report, at present India meets only ~15-20% of its power requirement from renewable energy and the revised target is 50% of its energy requirements from renewable energy by 2030. To accommodate such a high proportion of variable generation in the overall energy mix, there will be a need of additional investment in battery storage.

Vikram Solar’s PowerHive Battery Storage is our response to this need. As per CRISIL Report, projections are showing a 23-24 GW capacity addition in Battery Energy Storage Systems (BESS) over the fiscal years 2025 to 2030.”

Key Features and Advantages of our Solid-state Batteries:

  • Greater power storage: Minimal loss of electroactive metal enables batteries with greater power storage. 
  • Enhanced Safety: The use of this technology in batteries is both thermal and fire hazard safe.
  • Wider Stability: Works in a wide range of temperature and operating conditions and no dendrite formation in the batteries. 
  • Our batteries are stable for a Long Life of 10,000 cycles. 
  • Improved Performance: Stable at charge rate of 5C, offering efficiency and improved performance.
  • Atmanirbharta: Majority raw materials are sourced domestically, ensuring supply chain resilience and supporting local industries.
  • Sustainability: The entire product is recyclable and eco-friendly and manufactured from non-hazardous components, minimizing environmental impact 

By creating energy storage solutions, the company is contributing towards addressing energy security and sustainability challenges across the world. As demand for round-the-clock clean energy grows, Battery Energy Storage Systems (BESS) present a key solution for efficient energy storage. Through the addition of BESS to its portfolio, Vikram Solar aims to offer an integrated solution that combines power generation and storage, enhancing further our position as a one stop solution provider. Our existing partner network and R&D capabilities offer us a competitive edge to develop disruptive innovation in battery chemistry. 

About Vikram Solar:

Vikram Solar Limited is one of the leading Indian solar module manufacturers, specializing in efficient photovoltaic (PV) module manufacturing, with an international presence across 39 countries. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturers in India with cumulative production capacity of 4.5 GW. Vikram Solar is a ‘Top Performer’ in PVEL’s PV Module Reliability scorecard and has been included in the Tier 1 solar PV modules manufacturer list of Bloomberg NEF. Vikram Solar Limited has established a pan-India presence through an extensive distributor network of 41 authorized distributors, 64 dealers, and 67 system integrators.

Disclaimer 

Vikram Solar Limited (“Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with Securities and Exchange Board of India (“SEBI”). The DRHP is available on the websites of the Company at www.vikramsolar.com, SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, JM Financial Limited at www.jmfl.com, Equirus Capital Private Limited at www.equirus.com, Nuvama Wealth and Investment Limited at www.nuvamawealth.com, UBS Securities India Private Limited at www.ubs.com and PhillipCapital (India) Private Limited at www.phillipcapital.in and the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the DRHP and the RHP/Prospectus, when available. Potential investors should not rely on the RHP/Prospectus for any investment decision.

Website: www.vikramsolar.com.

For further information, please contact: Srabani Sen| Vikram Solar | Mobile: +91 7349661300| Email: press@vikramsolar.com