Press Releases Vikram Solar

The latest order brings the total contribution to the Khavda Renewable Energy Park to approximately 1.3 GW from Vikram Solar alone

Kolkata, May, 2025: Vikram Solar Limited, one of India’s largest solar PV module manufacturers, has secured a significant order from Gujarat Industries Power Company Limited. It will supply 326.625 MW of high-efficiency solar modules for the Khavda Renewable Energy Park—a key project in the Great Rann of Kutch, Gujarat.

The latest order supply brings its total contribution to the prestigious Khavda Renewable Energy Park to approximately 1.3 GW—a considerable share of this development. Expected to be fully operational by December 2026, the park will also aim to generate employment opportunities in the region.

The modules are scheduled for delivery in FY 25-26, further reinforcing Vikram Solar’s leadership in India’s green energy transition. This order underscores the company’s commitment in delivering high-performance solar modules designed to withstand challenging climatic conditions.

Mr. Gyanesh Chaudhary, Chairman & Managing Director of Vikram Solar, stated: “We are thrilled to secure this order, which reinforces the strong and enduring relationship between Vikram Solar and GIPCL. The Khavda project represents more than just scale—it symbolizes a collective push toward energy security and sustainability. With this order, we are contributing to one of the most important renewable energy projects in India.”

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 CY 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.