Press Releases Vikram Solar

Kolkata, July 2025: Vikram Solar Limited, one of India’s leading solar photovoltaic (PV) module manufacturers, proudly announces its recognition as a Top Performer 2025 in Kiwa PVEL’s Module Reliability Scorecard. This marks the company’s eighth overall and seventh consecutive appearance on the Scorecard.

This year, Vikram Solar’s N-TYPE G12R module has also qualified under the Kiwa PVEL’s 2025 Product Qualification Program (PQP). Kiwa PVEL is a globally recognized authority in extended reliability and performance testing for solar photovoltaic (PV) modules. Its PQP provides crucial third-party data to global PV buyers, helping accelerate solar adoption in long-term module reliability. This industry milestone reflects Vikram Solar’s commitment to building high-performance, and reliable products.

Both module variants have achieved the Top Performer status for the current year namely- The Hypersol M10 Series (featuring half-cut 108 / 120 / 144 cell variants) and the Hypersol G12R Series (featuring half-cut 96 / 108 / 120 / 132 cell variants).

These modules were subjected to rigorous testing under the PQP framework. The M10 Series underwent evaluations for thermal cycling, potential induced degradation, light- and elevated-temperature-induced degradation, and hail stress sequence. The G12R Series was assessed for light-induced degradation, PAN performance, and potential induced degradation, as applicable. The PVEL 2025 scorecard can be accessed on this link: https://scorecard.pvel.com/top-performers/

Mr. Gyanesh Chaudhary, Chairman and Managing Director of Vikram Solar said; “This recognition as a Top Performer in the Kiwa PVEL 2025 Scorecard is a proud affirmation of Vikram Solar’s long-standing commitment to provide reliable and high-quality solar solutions. Being acknowledged for the eighth time, and for the seventh consecutive year, underscores the strength of our processes, the dedication of our people, and the trust our partners place in us. It reflects the consistency with which we’ve delivered high-performance solar technology to global standards, and our focus on ensuring long-term value for our stakeholders through proven product resilience.”

“We are pleased to announce that Vikram Solar has once again achieved Top Performer status in our 2025 PV Module Reliability Scorecard,” said Tristan Erion-Lorico, Vice President of Sales and Marketing at Kiwa PVEL. “With this eighth appearance in the Scorecard, Vikram Solar continues to demonstrate performance and reliability in manufacturing. We congratulate them on this achievement.”

Vikram Solar was recently awarded the EcoVadis Platinum Medal, becoming the first in its sector at the group level (including all Vikram Solar group of companies globally) to achieve this and placing among the top 1% of companies evaluated globally for sustainability performance.

About Vikram Solar:

Vikram Solar Limited is one of the leading Indian solar PV module manufacturers, specialising 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 a cumulative production capacity of 4.5 GW in Fiscal 2025. Vikram Solar is a ‘Top Performer’ in PVEL’s PV module reliability scorecard in 2025 and has been included in the Tier 1 solar PV modules manufacturer list of Bloomberg NEF as of the first three quarters of CY 2024.

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 dated September 30, 2024 read with the addendum to the draft red herring prospectus dated March 25, 2025 (collectively, the “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.