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Vikram Solar Limited
Company typeLimited company
IndustrySolar energy
Founded2005; 19 years ago (2005)
FounderGyanesh Chaudhary
Headquarters"The Chambers", 8th Floor, 1865, Rajdanga Main Road,
Kolkata, West Bengal
,
India[1]
Area served
Worldwide
Key people
Gyanesh Chaudhary
(CMD)[2]
ProductsSolar modules
ServicesSolar Photovoltaic (PV) module manufacturing, project engineering and construction, Operation and Maintenance
RevenueUS$ INR 25,109.90 Million[3] (FY 2023-24)
Number of employees
1,513 employees and 728 contractual employees (FY 2023-24)
Websitewww.vikramsolar.com

Vikram Solar Limited is an Indian company based in Kolkata. It is one of the largest solar module manufacturers in India (by capacity), with 3.5 GW module manufacturing capacity annually.[4] The company's primary business focus is manufacturing solar Photovoltaic (PV) modules, and also carrying out engineering, procurement, and construction services and operations and maintenance of solar power plants.[5][6][7][8]

History

[edit]

Vikram Solar was founded in 2006 by Gyanesh Chaudhary[9] as a manufacturer of solar modules. It has since moved into engineering, procurement, and construction management, and solar power plant operations and maintenance.[10][11] Vikram Solar commenced manufacturing operations in 2009[12] with an installed solar PV module manufacturing capacity of 12.00 MW, which has grown to 3.50 GW installed capacity as on March 2024[13].

The company has existing manufacturing facilities at Falta SEZ in Kolkata, West Bengal and Oragadam in Chennai, Tamil Nadu.

In 2009, Vikram Solar supplied, installed and commissioned 1st phase of 500 KW solar power plant at Solar Park Kottenheim, Germany, its 1st international utility-scale EPC project[14]

In 2011, 3 MW solar plants installed under the National Solar Mission of India[15]

In March 2013, Vikram Solar contributed to the solarisation of World’s 1st solar airport in Kochi, Kerala[16]

In early 2014, the company designed, installed and commissioned India’s 1st ever floating solar plant in Kolkata, WB. In this year, the company was also listed as Tier-1 PV Module Maker in the Bloomberg NEF rankings as of quarter 1 of 2014.[17]

In 2015, the company reached 500 MW production capacity[18]. This year the company also concluded an agreement with British Solar Renewables (BSR) to supply modules with a total output of 30 MW.[19]

In April 2015, Vikram Solar's modules received the "Excellent Performance" certificate.[20]

In December 2015, the company contributed to the commissioning of India's largest rooftop airport installation in Kolkata.[21]

In January 2016, the company became one of three solar players in the India's Solar Photovoltaic Market Outlook.[22]

In February 2016, the company partnered with Powertech Africa, an African distributor of energy technology, thereby entering 14 new markets in Sub-Saharan Africa, including Botswana, Zimbabwe, and Tanzania. Vikram Solar already operates offices in Kenya, Uganda, and South Africa.[23]

In June 2016, the company won the National Excellence Award.[24]

In September 2016, Vikram Solar signed an MoU with teamtechnik.[25]

In October 2016, Vikram launched a strategic cooperation to enter the Finnish market.[10]

In November 2016, Vikram Solar announced an MoU with the Indian Institute of Engineering Science and Technology (IIEST) at the Rashtrapati Bhavan.[11]

In June 2017, the company reached manufacturing capacity of 1 GW.[26]

In July 2017, Vikram Solar modules became one of the top-performing modules by DNV GL testing standards.[27]

In October 2017, Vikram Solar launched the new monocrystalline product line SOMERA.[28]

In January 2018, Mr. Gyanesh Chaudhary was appointed as the Chairman of the Renewable Energy & Energy Storage Division of IEEMA.[29]

In February 2018, the company opened a sales office in Massachusetts, United States.[30]

In March 2018, Vikram Solar tied up with France's CEA to drive innovative technology research and development.[31]

In May 2018, Vikram Solar opened an office in Gurgaon.[32]

In June 2018, the company announced to launch of a Tigo-integrated Smart module called SOLIVO at Intersolar Munich 2018.[33]

In 2018, Vikram Solar launched a half-cut cell module at REI 2018 and commissioned a 200 MW plant in Andhra Pradesh for a solar power generation company[34].[35]

In 2019, the company won a contract to install a 140 MW Solar Project for the NTPC. This year, the company also commissioned East India’s largest single shed rooftop project of 2.15 MW[36]. [37]

In April 2020, the company bagged a 300 MW project from National Thermal Power Corporation Limited, (NTPC)[38]

In March 2020, the company ranked 32 on Fortune India's Next 500 list[39]

In December 2020, the company commissioned 919.73 kWp rooftop plant to power a part of our solar manufacturing in Falta, West Bengal[40]

In January 2021, the company launched the highly advanced new M6 cell series modules as first Tier 1 company in India[41]

In May 2021, Vikram Solar commissioned (140+85) 225 MW plant for NTPC in Uttar Pradesh – largest in the state[42]

In May 2021, Vikram Solar continued to be the 'Top Performer' in PVEL PQP Reliability Scorecard for the 4th time in last 5 years[43]

In June 2021, Vikram Solar crossed 3 GW capacity in terms of modules shipped globally[44]

In July 2021, Vikram Solar becomes India's largest module manufacturer with up to 2.5 GW capacity; inaugurates 1.3 GW module manufacturing facility.[45]

In 2022, Vikram Solar reached 2.5 GW of module production capacity[46]. This year the company also obtained a 350 MW module supply contract in the US[47] and was certified for their M10 and G12 cell modules by TUV Rheinland, UL 61730:2022 for their factories at Panaiyur Village, Kanchipuram, India and Falta SEZ[48].

In 2023, Vikram Solar reached 3.5 GW of module production capacity[49]. This year the company also was also accredited by the NABL in accordance with ISO/IEC 17025:2017 (second solar company in India and the first in Eastern India to get such accreditation).[50]

In 2024, Vikram Solar became India’s only Tier 1 module manufacturer, featured in BNEF’s list.[51] In this year, the company also won KIWA PVEL’s ‘Top Performer’ position 7th time in last 8 years [52]and launched n-type monocrystalline cell with Tunnel Oxide Passivated Contact (TOPCon) and heterojunction (HJT) PV modules.

The company is also going for vertically integrated setup by establishing a 3 GW solar cell manufacturing facility in Tamil Nadu and on its way to establish a 3 GW solar manufacturing facility in the US[53].

Projects

[edit]

Vikram Solar has more than 275 projects which have been executed or are under execution with an aggregate capacity of 1.03 GW, as of March 31, 2024.

Below are some of Vikram Solar's project references:

India

[edit]


The company has also installed and commissioned solar projects totaling 4,015 kW in six airports, namely:

  1. 2.00 MW at Netaji Subhas Chandra Bose International Airport, Kolkata, West Bengal;
  2. 750 kW at Calicut International Airport, Calicut, Kerala;
  3. 725 kW at Dibrugarh Airport, Dibrugarh, Assam;
  4. 220 kW at Gondia (Birsi) Airport, Gondia, Maharashtra;
  5. 220 kW at Gaya Airport, Bodhgaya, Bihar and
  6. 100kW installation at the Cochin International Airport, Kochi, Kerala, which is the world’s first fully solarized airport[69]


In 2024, the Company has won marquee orders to supply modules to large projects such as the 397.70 MW project developed by NTPC, Renewable Energy Limited in Gujarat, 393.90 MW project developed by NLC India Limited in Gujarat and 251.25 MW developed by GIPCL in Gujarat Hybrid Renewable Energy Park in Kutch, Gujarat.[70]

The company also has recently won a huge 1.00 GW order from one of the subsidiaries of JSW Energy Limited for supply of high - efficiency solar PV modules in CY 2024[71].

Abroad

[edit]

Vikram Solar Supplied 52.6 MW of Modules to Southern Current, United States.[72]

4.2 MW project commissioned in the US with Vikram Solar modules.[73]

312 kWp solar system installed by Finnwind Oy with Vikram Solar modules at Helsinki-Vantaa Airport.[74]

Recognition

[edit]

In 2024

  • The Company was awarded ‘Best Project of the Year - Ground Mount’ category in Solar Quarter State Leadership Awards (Rajasthan), 2024 by FirstVIEW Intelligent Business[75]
  • The Company’s manufacturing facility in Falta was awarded Gold Medal at the National Awards for Manufacturing Competitiveness (2023-24) by International Research Institute for Manufacturing, 2024[76]

In 2023

  • The Company was awarded ‘Company of the Year: Module Domestic (Platinum)’ award at the Utility Solar Show India Leadership Awards 2023 by FirstVIEW Intelligent Business[77]
  • The Company was awarded ‘Smart Technology Innovation of the Year (Modules)’ award at the 'Utility Solar Show India Leadership Awards 2023 by FirstVIEW Intelligent Business[78]
  • The Company was awarded ‘Gold CCQC-2023’ award by the Quality Circle Forum of India, Kolkata Chapter, 2023[79]
  • The Company was awarded the ‘Silver Award’ at the CII-SR EHS Excellence Awards 2023, by the Confederation of Indian Industry[80]

In 2022

  • The Company was awarded ‘Company of the Year: EPC’ and ‘Module Company of the Year: National (Platinum)’ at the India Utility Solar Week Leadership Awards, 2022 by FirstVIEW Intelligent Business[81]
  • The Company was awarded the ‘Special Jury Award’ under unlisted medium category of the first edition of the corporate governance recognition 2022 event by the Bengal Chamber of Commerce and Industry
  • The Company was awarded the ‘Best Green Energy Initiative Company of the Year’ award at the dare to dream event, 2022
  • The Company was awarded the ‘Silver award for Manufacturing and Engineering’ at the fourth ICC National Occupational Health & Safety Award
  • The Company was awarded the ‘Innovative Project and Jury Choice (Product Development) Award’ at ICC’s 2nd Green Urja and Energy Efficiency Awards
  • The Company was awarded the ‘EPC Company of the Year: Commercial’, ‘Company of the Year: Module’ and ‘Smart Technology Innovation of the Year- Solar Module’ at the India Rooftop Solar Congress Awards, 2022 by FirstVIEW Intelligent Business[82]

In 2021

  • The Company was awarded ‘Company of the Year: EPC’ and ‘Outstanding Product Innovation of the Year’ at the India Utility Solar Week Leadership Awards, 2021 by FirstVIEW Intelligent Business[83]

In 2020

  • Won Module Manufacturer of the Year: Make In India (1.2 GW), Smart Technology Innovation of the Year – Cell Modules, Outstanding Technology Innovation of the Year – MBB Half-cell Modules, Technology of the Year: Utility Solar Module, Module Company of the Year: Testing equipment Award in PV Module Tech Awards by Solar Quarter on 12 November[84]
  • Best Performing Modules of the Year and Best Solar Project on-site Service team Award by Solar Quarter at RE Assets India on 21 February[85]
  • Business Leader of the Year Award by ET Now in Customer Centric Excellence category on 19 February
  • Module Manufacturer of the Year award by Solar Quarter at Indian Rooftop Solar Congress India event on 27 January

In 2019

  • The Company was a Gold Award Winner in the category ‘Best Performing Modules of the Year-Domestic Manufacturer – Utility Solar’ for outstanding achievement in the renewable energy sector at the RE Assets Excellence Awards, 2019 by Solar Quarter
  • The Company was conferred with the award for ‘Outstanding Contribution in Renewable Energy EPC for 80 MW Solar Project in Charanka, Gujarat’ at the 8th EPC World Awards
  • Active Customer Engagement Award from CII on 22 January[86]
  • India Rooftop Solar Congress Leadership Awards 2018 by Solar Quarter on 17 January
  • CBIP Awards from Power Minister Shri R.K. Singh on 4 January[87]
  • India's Most Preferred Brands Award on 3 January

In 2018

  • The Company received the Gold Award for being the ‘Top Exporter, West Bengal – MSME’ at the 6th Export Excellence Awards, 2017-18, by Federation of India-Export Organizations (eastern region)
  • The Company was presented with West Bengal Best Employer Brand Awards 2018 at the 13th Employer Branding Awards by World HRD Congress
  • The Company was declared the winner for its Outstanding Achievement in the Leadership Category of Solar Module Company of the Year by Solar Quarter- India Rooftop Solar Congress, 2018
  • The Company received the ‘Manufacturing Leadership Award in the Solar Sector’ at the West Bengal Manufacturing Leadership Awards, 2018
  • No. 1 Solar Panel Manufacturer of the year and No. 1 Grid Sharing Solar PV Power Solution Provider of The Year award from Soft Disk on 8 December[88]
  • Dare-to-Dream Awards, Kolkata manufacturing leadership awards and Kolkata Best Employer Brand Awards on 30 October[89]
  • Leading RE Manufacturer Awards from REI event on 17 September[90]
  • Solar Module Company of the Year and Rooftop Solar EPC Company of the Year award by Solar Quarter on 18 January[91]
  • Fastest Growing Company by ET Bengal Corporate Awards on January[92]

In 2017

  • Gold Certificate of Merit by Frost & Sullivan on 13 December[93]
  • Kolkata Best Employer Brand awards by Employer Branding Institute India on 8 November[94]
  • Leading Renewable Energy Manufacturer Solar Module Awards by REI on 20 September[95]
  • CEO and MD of Vikram Solar, Mr. Gyanesh Chaudhary was conferred with Emerging Leader Award by CMA on 16 March[96]
  • The Company received an award for ‘Best Solar Energy Solutions Provider 2017' at the APAC Insider Business Awards, 2017
  • The Company received the ‘Highest Job Creator Award’ in the above ₹ 500 crores to ₹ 1000 crores category at the ET Bengal Corporate Awards 2017 by The Economic Times[97]

In 2016

  • Fastest growing company in INR 300–1000 crore category by Economic Times of India[98]
  • National excellence award for Rooftop Solar Power Projects in the Domestic Solar Module Manufacturers Category by MNRE on 13 June[99]

In 2015

  • The Company received a certificate for special recognition in the category of Leading Renewable Energy Manufacturers- Solar at the Renewable Energy India Awards, 2015[100]

See also

[edit]

References

[edit]
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  2. ^ "BQ Conversations with Vikram Solar's MD Gyanesh Chaudhary". YouTube. 20 July 2021.
  3. ^ "Vikram Solar Owler". Owler.
  4. ^ Mohanty, Shashwat. "largest manufacturer in India". The Economic Times.
  5. ^ "Company Overview of Vikram Solar Pvt Ltd". Bloomberg Business. Retrieved 29 March 2016. [verification needed]
  6. ^ Gireesh Chandra Prasad (15 June 2016). "Vikram Solar to sell shares for expansion". Mint. Retrieved 30 July 2016. [verification needed]
  7. ^ "Vikram Solar commissions 40 MW plant in Madhya Pradesh". Business Standard India. Business Standard. 12 May 2015. Retrieved 30 July 2016. [verification needed]
  8. ^ Natalie Obiko Pearson (12 August 2014). "Vikram Solar to Build India's First Floating Solar Plant". Bloomberg L.P. Retrieved 30 July 2016. [verification needed]
  9. ^ "Company Overview of Vikram Solar Pvt Ltd". bloomberg.com. Retrieved 29 March 2016.
  10. ^ a b Sengupta, Debjoy (19 October 2016). "Vikram Solar eyes Finnish markets". The Economic Times. Retrieved 13 September 2019.
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  27. ^ Gupta, Anand (3 July 2017). "Vikram Solar modules among the top performers of 2017". eqmagpro.com. Retrieved 13 September 2019.
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  33. ^ "Vikram Solar launches Tigo-integrated SOLIVO smart modules". renewablewatch.in. August 2018. Retrieved 13 September 2019.
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  43. ^ "PVEL recognition". 28 May 2021.
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  59. ^ "Vikram Solar commissions 10-Mw project for ONGC in Gujarat". India Times. 6 September 2018. Retrieved 23 June 2021.
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  65. ^ "Vikram Solar commissions 20MW Solar Power Project for Jindal Aluminum in Karnataka". energy.economictimes.indiatimes.com. 12 April 2017. Archived from the original on 19 April 2019. Retrieved 13 September 2019.
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  84. ^ "5 Prestigious awards". 13 November 2020.
  85. ^ "award picture".
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  87. ^ "Vikram Solar awarded with 'Best Contribution in Solar Energy' by MNRE Minister at CBIP Awards". 5 January 2019.
  88. ^ "28th SD Awards Presentation Ceremony".
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  90. ^ "Renewable energy awards".
  91. ^ "Solar Quarter".
  92. ^ "ACAE".
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  94. ^ "Kolkata".
  95. ^ "Renewable Energy India Awards 2017". 2017.
  96. ^ "Kolkata". 18 March 2017.
  97. ^ "SEBI | VIKRAM SOLAR LIMITED". www.sebi.gov.in. Retrieved 2 December 2024.
  98. ^ "ET Award". Archived from the original (JPG) on 24 January 2019.
  99. ^ "National Excellence Award". Archived from the original (JPG) on 24 January 2019. Retrieved 31 March 2023.
  100. ^ "SEBI | VIKRAM SOLAR LIMITED". www.sebi.gov.in. Retrieved 2 December 2024.
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