Vikram Solar, a solar PV module manufacturer, bagged a 250MW supply order for n-type solar modules from the Bondada Group, which will deploy the modules in a large-scale solar project in Maharashtra. Deliveries will begin in FY 2025–26.
Powering Maharashtra’s Renewable Energy Goals
The supply agreement is a strategic step forward for both companies. Vikram Solar emphasized that the project aligns with its commitment to expanding India’s renewable energy capacity. It also supports Maharashtra’s clean energy ambitions.
Bondada Raghavendra Rao, Managing Director of the Bondada Group, noted that the partnership will accelerate the group’s goal of reaching 10GW of renewable capacity by 2030. “With over 3GW of projects currently in progress, and new opportunities emerging from partnerships like this, we’re well-positioned to deliver purpose-driven infrastructure with speed, innovation, and execution excellence,” he added.
Vikram Solar: Scaling Up and Going Global
Vikram Solar currently operates 4.5GW of installed manufacturing capacity across its Kolkata and Chennai facilities, and is rapidly expanding. The company plans to scale up to 10.5GW by FY 2026 and further to 15.5GW by FY 2027, reinforcing its leadership in India’s solar manufacturing space. Internationally, Vikram Solar recently entered the U.S. market through a joint venture with Phalanx Impact Partners and Das & Co. The partnership aims to set up a 6GW vertically integrated solar manufacturing facility in Colorado.
IPO and Domestic Expansion in Tamil Nadu
The company also received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). As part of its expansion, Vikram Solar is building a new integrated manufacturing facility in Tamil Nadu. The plant will have 3GW capacity each for solar cells and modules, and will operate under its wholly owned subsidiary, VSL Green Power Private Limited. For this project, it has allocated ₹793.36 crore.
Strengthening Presence in Gujarat’s Khavda Solar Park
In May 2025, Vikram Solar signed a 326.6MW module supply agreement with Gujarat State Electricity Corporation Limited (GSECL). The modules will be used for the 2.3GW Khavda Solar Park. This added to its previous June 2024 deal to deliver 393.9MW of 580Wp n-type TOPCon modules. With this, the company’s total contribution to the landmark project exceeds 700MW. Pv-tech.org reported that Vikram Solar has not disclosed the specific technology for the latest 250MW Bondada order. However, the company expects delivery to align with its existing project timelines in FY 2025–26.
