+
Vikram Solar To Expand Capacity To 17.5 GW By FY27
POWER & RENEWABLE ENERGY

Vikram Solar To Expand Capacity To 17.5 GW By FY27

Vikram Solar Ltd will shift the bulk of its upcoming capacity expansion to Tamil Nadu as the company targets an aggressive ramp-up to 17.5 GW of solar modules and 12 GW of solar cells by FY27, officials said.
Currently, the company operates 4.5 GW of module capacity, with its largest facility of 3.5 GW located at Falta SEZ in West Bengal and 1.3 GW at Oragadam near Chennai. The bulk of new projects will now be set up at Vallam and Gangaikondan in Tamil Nadu, including a major integrated solar cell and module facility involving substantial capital expenditure.
In West Bengal, Vikram Solar will invest Rs 4 billion to add 2 GW of modules at its Falta unit, taking the site’s capacity to 5.5 GW. “By FY27 we are aiming to ramp up to 17.5 GW of modules and backward integration of 12 GW of cells,” CMD Gyanesh Chaudhary said.
The first phase of expansion, comprising 6 GW of modules and 3 GW of cells, will be financed through IPO proceeds, debt, and incentives. Tamil Nadu will provide about Rs 9 billion in subsidies over the lifecycle of the projects.
Vikram Solar’s Rs 20.79 billion IPO, which opened on 19 August and closes on 21 August, has already been oversubscribed 4.4 times. The company raised Rs 6.21 billion from 43 institutional investors through the anchor book on 18 August. The issue includes a fresh issue of Rs 15 billion and an offer for sale by promoters, reducing promoter holding from 77.6 per cent to 63.1 per cent.
The company has also secured Rs 17 billion in debt financing from IREDA, while Rs 5.28 billion under the PLI scheme and Rs 9 billion in Tamil Nadu subsidies will support its projects.
Founded in 2006, Vikram Solar is among India’s largest solar module makers and is now building a fully integrated solar ecosystem with backward linkages into cell manufacturing.

Vikram Solar Ltd will shift the bulk of its upcoming capacity expansion to Tamil Nadu as the company targets an aggressive ramp-up to 17.5 GW of solar modules and 12 GW of solar cells by FY27, officials said.Currently, the company operates 4.5 GW of module capacity, with its largest facility of 3.5 GW located at Falta SEZ in West Bengal and 1.3 GW at Oragadam near Chennai. The bulk of new projects will now be set up at Vallam and Gangaikondan in Tamil Nadu, including a major integrated solar cell and module facility involving substantial capital expenditure.In West Bengal, Vikram Solar will invest Rs 4 billion to add 2 GW of modules at its Falta unit, taking the site’s capacity to 5.5 GW. “By FY27 we are aiming to ramp up to 17.5 GW of modules and backward integration of 12 GW of cells,” CMD Gyanesh Chaudhary said.The first phase of expansion, comprising 6 GW of modules and 3 GW of cells, will be financed through IPO proceeds, debt, and incentives. Tamil Nadu will provide about Rs 9 billion in subsidies over the lifecycle of the projects.Vikram Solar’s Rs 20.79 billion IPO, which opened on 19 August and closes on 21 August, has already been oversubscribed 4.4 times. The company raised Rs 6.21 billion from 43 institutional investors through the anchor book on 18 August. The issue includes a fresh issue of Rs 15 billion and an offer for sale by promoters, reducing promoter holding from 77.6 per cent to 63.1 per cent.The company has also secured Rs 17 billion in debt financing from IREDA, while Rs 5.28 billion under the PLI scheme and Rs 9 billion in Tamil Nadu subsidies will support its projects.Founded in 2006, Vikram Solar is among India’s largest solar module makers and is now building a fully integrated solar ecosystem with backward linkages into cell manufacturing.

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?