Vikram Solar, which inaugurated its 1.3 GW module manufacturing facility in Tamil Nadu recently, is looking to add another 3-3.5 GW capacity in the next four-to-five years at an estimated investment of close to ₹5,000 crore.
Vikram Solar currently has a total installed capacity of 1.2 GW of solar modules at Falta in West Bengal.
With the addition of this new facility located at Indospace Industrial Park, Oragadam, Tamil Nadu, the company’s cumulative PV module manufacturing capacity reaches 2.5 GW, making it the largest in India.
According to Saibaba Vutukuri, Chief Executive Officer, Vikram Solar, adoption of renewable has been happening at a fast pace and the demand has been growing. The additional capacity of 3 GW is likely to come up close to the existing unit in Tamil Nadu.
“Our capacity utilisation is close to 70-80 per cent at present and we are expecting capacity utilisation of 80-85 per cent at the new facility since we have a good order book for the next 18-24 months,” Vutukuri said in a virtual press conference.
Gyanesh Chaudhary, Managing Director, Vikram Solar, said, exponential demand surge for solar energy coupled with a call to diversify trade markets and supply chain globally presents a huge opportunity for indigenous solar manufacturing.
“We believe our new facility further strengthens not just Vikram Solar but the nation’s solar manufacturing prowess and ecosystem. Apart from bridging the demand-supply gap for modules, our facility will propel technology innovation, job creation and aid the country's renewable energy targets,” he said during the conference.
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