Kolkata, 23rd April 2025: Vikram Solar Limited, one of India’s largest and most trusted solar PV module manufacturers, has announced the receipt of an order for a major renewable power project of 150 MW from Maharashtra State Power Generation Co. Ltd (MAHAGENCO), a government of Maharashtra undertaking. The strategic order will see Vikram Solar deliver high-efficiency solar modules adding to its project portfolio. It reinforces the Kolkata-headquartered company’s standing as one of the premier names in India’s Approved List of Models and Manufacturers (ALMM) list.

The company will provide 150 MW of advanced N-Type Modules, known for its performance and energy yield. The modules will be supplied in the districts of Jalgaon and Solapur in the state of Maharashtra to MAHAGENCO under Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) project 2.0. The commencement of the order delivery is set to be in the FY25-26. The implementation of this project is anticipated to boost the region’s renewable energy capacity, support the reduction of carbon emissions, and advance environmental sustainability.

Mr. Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar, commented: “We are proud to have secured this order, which marks another step forward in our mission to power a greener India through high-efficiency solar solutions. The trust placed in Vikram Solar is a reflection of our commitment to quality, innovation, and sustainability. As we continue to expand our presence in key markets, such as Maharashtra, our focus remains on delivering value and excellence to our partners and communities. We view Maharashtra as a high-potential market with a rapidly growing appetite for renewable energy, and we remain optimistic about the region’s accelerating demand trajectory.”

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 as of Fiscal 2024. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturers in India with cumulative production capacity of 4.5 GW in Fiscal 2025. 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 as of the first three quarters of 2024. 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 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.
Website: www.vikramsolar.com.
For further information, please contact: Srabani Sen| Vikram Solar | Mobile: +91 7349661300| Email: press@vikramsolar.com