Vikram Solar announces MoU with the Indian Institute of Engineering Science and Technology (IIEST) at the Rashtrapati Bhavan

New Delhi, November 16, 2016

rashtrapati-bhavan-with-president-of-indiaUnder the agreement, both parties will undertake joint projects in various areas of mutual interest.

New Delhi, 16 November, 2016: Vikram Solar, a globally recognized leading solar energy solutions provider today announced a Memorandum of Understanding with the Indian Institute of Engineering Science and Technology (IIEST), an Institute of National Importance listed by the Government of India. IIEST is recognized as one of the Centres of Excellence in Solar Energy by the Ministry of New and Renewable Energy (MNRE), Govt. of India. The announcement was made at the Rashtrapati Bhavan in the presence of Hon’ble President of India, Shri Pranab Mukherjee at a Session on Industry-Academia Collaborations with CII.

As per the agreement, both the organisations will collaborate for the purpose of research and development for enrichment of knowledge in the area of solar photovoltaic, beneficial to both the academia and industry. The two entities will also collaborate and identify key R&D areas (knowledge generation, know-how update, technology exploitation, system development, novel or new technology resources, applied research etc.) to address the immediate requirements of the country, arrange seminars and training programs on solar photovoltaic with active participation of faculties and students of IIEST and scientists of VSPL.
Speaking on the occasion, Mr Gyanesh Chaudhary, MD and CEO, Vikram Solar, commented, “We are glad to announce this partnership. It is a proud moment for us to collaborate with the esteemed Institute for research and development purpose and in order to address the immediate requirements that the country faces in terms of developing advanced technological solar solutions.”

Reiterating the significance of the partnership, Prof. Ajoy Ray, Director IIEST, commented, “Vikram Solar is among the leading PV companies in India. The company has already carved its positioning around the world and now it’s looking to further expand presence in the subcontinent though innovative products, projects and services. A grounded, well-knit, efficient and progressive Research & Development ecosystem is the building block of every kind of innovation and it also has the power to do away with an avalanche of issues that the country faces today. This is precisely why we view this partnership as an exceptionally beneficial one. We look forward to more such associations in the near future.”

Talking about the company’s expansion plans, Mr Ivan Saha, President and Chief Technological Officer, Vikram Solar said “We have structured plans to expand our manufacturing capability and emerge as the largest and the most integrated player in the PV industry in India. Vikram Solar aims to reach a manufacturing capacity of 2 GW by FY 2020.”

About Vikram Solar
Vikram Solar is a leading solar energy solutions provider, specializing in high efficiency PV module manufacturing and comprehensive EPC solutions. With international presence in 4 continents, the company is an active contributor in shaping the solar revolution across continents. Carrying forward the extensive manufacturing experience of the Vikram Group, Vikram Solar, since 2006, is building on a 4-decade-old success story. Vikram Solar’s annual PV Module production capacity stands at 0.5 GW, and the company is further expanding it to 2 GW by FY 2020. Being a Tier 1 PV module manufacturer (Bloomberg ranking), the company’s products are designed to the highest standards of quality, reliability and performance. As a fully forward- integrated Solar EPC contractor, Vikram Solar deploys world- class technology to design, install and commission solar projects worldwide.

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