Vikram Solar received board approval for a ₹4,371 crore capital expenditure to enter the battery energy storage systems (BESS) market through its wholly-owned subsidiary, VSL Powerhive. The move marks a strategic expansion beyond solar modules into advanced energy storage solutions.
Lithium-Ion BESS Facility to Begin Operations by FY27
The project will initially focus on lithium-ion battery packs, with plans to commission a five gigawatt-hour (GWh) facility by FY27. This development positions Vikram Solar to capitalize on growing demand for grid-scale and renewable-integrated energy storage solutions.
Strong Q3 Performance Drives Confidence
Vikram Solar reported a five-fold increase in net profit for the third quarter of the current financial year, fueled by robust volume growth and improved operational efficiency. Module sales rose 35 percent, reaching 796 MW compared to 590 MW in Q3FY25. Capacity utilisation stood at 90 percent in Q3FY26, reflecting strong demand and effective production planning.
Leadership Highlights Resilient Execution
Gyanesh Chaudhary, Chairman and Managing Director of Vikram Solar, stated, “We delivered a resilient and disciplined performance, anchored by strong execution volumes and continued improvements in operating efficiency.” As reported by projectstoday.com, the investment in BESS is expected to enhance the company’s growth trajectory and diversify its offerings. It will also strengthen Vikram Solar’s position in India’s renewable energy and storage markets.
