Vikram Solar Ltd. saw its shares climb on Friday after the company announced it had secured a significant 124 MW solar module supply order. The contract is for a utility-scale solar project located in Anantapur, Andhra Pradesh, reinforcing the company's position in India's growing renewable energy sector.
Following the announcement, Vikram Solar shares gained 1.20 percent, reaching a high of Rs 167.50 during trading. The scrip opened at Rs 166.10 on BSE, up from its previous close of Rs 165.50.
Order Details and Technology
Under the terms of the agreement, Vikram Solar will supply its advanced high-efficiency G12R TOPCon modules. These modules boast rated capacities ranging from 620 Wp to 630 Wp, representing cutting-edge solar technology designed for optimal energy generation. Module supplies are scheduled to begin in October 2026.
The order was awarded by Capital Energy Private Limited and constitutes a domestic, one-time contract. According to the company's exchange filing, the execution of this order is expected to be completed by the end of the third quarter of 2026. Vikram Solar also clarified that there is no interest from its promoter, promoter group, or any group companies in the entity awarding the order, ensuring it does not fall under related-party transactions.
Company Growth and India's Energy Ambitions
This new order comes as Vikram Solar continues to expand its manufacturing capabilities. The company recently increased its module manufacturing capacity to an impressive 15.5 GW. This expanding footprint and diverse technology portfolio are crucial for meeting the demands of large-scale utility projects and supporting India's broader strategic push towards domestic manufacturing and energy self-reliance.
Vikram Solar CEO Sameer Nagpal commented, "Every module supply order we sign is a vote of confidence - not just in our capacity, but in the technology and consistency we bring to the table." He emphasized that solar developers are actively seeking partners capable of matching India's ambitious energy goals with advanced, reliable solutions, highlighting the company's G12R TOPCon platform as a reflection of its technological focus.
With an international presence across 39 countries, Vikram Solar maintains a robust pan-India network comprising 119 authorized distributors and over 750 dealers. The company has also received industry recognition, including being named a PVEL Top Performer nine times and consistently featuring on Bloomberg NEF's Tier 1 solar module manufacturer list for nine consecutive quarters.