Stock of renewable energy firm, Vikram Solar remains in focus as the company has announced the commissioning of a new manufacturing plant in Gangaikondan, Tamil Nadu. As per the company’s regulatory filing, the solar plant will have highly advanced technology and generate significant employment in the area, thereby aiding industrial development.
Vikram Solar: Tamil Nadu Project details
The company’s newest manufacturing facility in Tamil Nadu is spread across 6 lakh square feet of land and is expected to generate employment for over 1,500 skilled workers, Vikram Solar said in its press release.
“The investment supports regional industrial development while expanding India’s clean energy manufacturing base. It is a highly automated plant built to the latest standards in module manufacturing,” it added.
The manufacturing unit integrates advanced automation with digital manufacturing technologies to help improve efficiency, quality and reliability, the company said. Key capabilities at the facility comprise production process, complete traceability of every module manufactured, and automated inspection systems.
Additionally, the plant uses smart systems to automatically grade, sort, and package modules. “The first products manufactured at the plant are Vikram Solar’s Hypersol N-Type TOPCon G12R modules. They deliver 615-640 Wp of rated power with module efficiencies of up to 23.69%,” the company said in its exchange filing.
Vikram Solar noted that in the coming years, the facility will include house module, cell, water and ingot manufacturing units as well. By the end of FY27, the company intends to establish 9GW of solar cell manufacturing capacity, and expand it by another 3 GW by FY28. Vikram Solar said that by FY29-30 the firm aims to add 12 GW of water and ingot manufacturing capacity.
Vikram Solar: Management Commentary
Commenting on the development, Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar, said: “Having crossed 10 GW in cumulative global module deployments earlier this year, we are building capacity against demonstrated demand. We are building an integrated manufacturing platform aligned with India’s domestic content framework strengthening supply chain resilience.”
He added that the new plant is an investment in the future of domestic solar manufacturing.
Vikram Solar share price
Following the announcement, Vikram Solar’s stock fell more than 2% on NSE, trading near its 52-week low mark. Over the past one month its share price has decreased by over 11%, while over the past six months it has declined by 23%.
So far this year, Vikram Solar’s share price has fallen nearly 22% .
About the company
Vikram Solar is an Indian solar module manufacturer, specializing in photovoltaic (PV) module manufacturing. Beyond manufacturing, the company is also engaged in the business of EPC services, and O&M for utility and rooftop projects. It is headquartered in Kolkata, West Bengal.