Telangana, a key market for us: Vikram Solar
Kolkata-based solar energy company open to setting up more greenfield facilities across major markets of India in the future, including Telangana
Hyderabad: Vikram Solar, which inaugurated its 1.3 giga watt (GW) solar module manufacturing facility today in Tamil Nadu, is open to setting up more greenfield facilities across major regions of India in the future, including Telangana, which currently accounts for its 10-15 per cent market.
The Kolkata-based solar energy company will also explore opportunities to ramp up capacity through the central government’s production-linked incentive (PLI) scheme for solar manufacturing.
When asked if the company has plans to invest in Telangana, Saibaba Vutukuri, CEO, Vikram Solar, told Telangana Today, “We keep evaluating manufacturing options across India. We are not averse to any State. We see huge opportunities in the solar space. We have done several projects in the Telangana region and the State today accounts for almost 10-15 per cent of our market. It remains an important market for us.”
Adoption of renewable energy has been happening at a fast pace and the demand has been growing in the country consistently. Vikram Solar could be investing Rs 5,000 crore over the next five years towards its expansion and further double capacity to 5 GW, with a potential to even take it to about 7 GW later, he said.
The solar module manufacturer has set up a 1.3 GW solar photovoltaic (PV) module manufacturing facility located at Indospace Industrial Park, Oragadam, Tamil Nadu. With this unit, the company’s cumulative PV module manufacturing capacity reaches 2.5 GW, which is currently the largest in India.
Vikram Solar’s manufacturing footprint consists of 1.2 GW facility in Falta, West Bengal and the new 1.3 GW facility in Chennai. With a global footprint across six continents, the company has a portfolio of 1,441 MW commissioned and under execution projects and employs about 2,000 employees.
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