Vikram Solar Powers Up: Major Capacity Expansion Ahead

Vikram Solar Ltd plans significant expansion in Tamil Nadu, aiming for 17.5 GW of solar module and 12 GW of cell capacity by FY27. The company leverages IPO proceeds, debt, and subsidies for the expansion. Its IPO has been oversubscribed, highlighting strong investor interest.

Vikram Solar Ltd, a prominent player in the solar panel manufacturing sector, is expanding its capacity, primarily in Tamil Nadu. The company aims to achieve a production capacity of 17.5 GW in solar modules and 12 GW in solar cells by the fiscal year 2027, as reported by company officials.

Currently, Vikram Solar operates 4.5 GW of module capacity, with significant plants in West Bengal and near Chennai. However, substantial new projects will unfold in Vallam and Gangaikondan, Tamil Nadu, involving a major solar cell and module facility.

The expansion, funded through IPO proceeds, debt, and incentives, includes a Rs 2,079.4 crore IPO oversubscribed 4.4 times. The company also receives debt from IREDA and subsidies from Tamil Nadu, strengthening its strategic growth plans.