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.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement