Vikram Solar secures 400 MW module supply order for solar projects in Maharashtra

Solar energy solutions provider Vikram Solar Ltd on Monday (September 28) said it has secured a 400 MW module supply order from a leading EPC company in India for a portfolio of decentralised solar projects across multiple locations in Maharashtra.

Under the one-time domestic order, Vikram Solar will supply 620 Wp high-efficiency N-Type TOPCon G12R modules featuring glass-to-glass, bifacial technology and half-cut cells.

"Under the agreement, Vikram Solar will supply its high-efficiency N-Type TOPCon G12R modules, featuring glass-to-glass, bifacial technology and half-cut cells, with a power output of 620 Wp. Supplies are scheduled to commence in October 2026," according to a stock exchange filing.

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Supplies are scheduled to commence in October 2026, with the order to be executed by March 2027. The customer is a renowned company and a leading EPC player in India.

The order is for decentralised solar projects in Maharashtra and further strengthens Vikram Solar's presence in the agricultural-feeder solarisation segment.

The company said its promoter, promoter group and group companies have no interest in the entity awarding the order. The order also does not fall under a related-party transaction.

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Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar, said, "Programmes like MSKVY 2.0 represent an important evolution in India’s clean energy journey, bringing the benefits of solar power closer to farmers and agricultural communities.

Supplying modules for projects of this scale across Maharashtra reflects the confidence placed in Vikram Solar’s advanced G12R TOPCon technology and our ability to support large, geographically distributed solar deployments.

As India continues to expand its renewable energy infrastructure, we remain committed to delivering high-performance solar solutions that support energy security, strengthen domestic manufacturing and contribute meaningfully to the country’s clean energy ambitions."

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In September this year, Vikram Solar said it has entered into a ₹1,250 crore domestic solar cell supply agreement with Avaada Electro Ltd for the procurement of 1 gigawatt (GW) of ALMM-compliant N-Type G12R TOPCon solar cells.

Under the agreement, Avaada Electro will supply domestically manufactured half-cut N-Type G12R TOPCon solar cells for Vikram Solar’s module manufacturing operations. Deliveries are scheduled to begin in September 2026, the company said in a regulatory filing.

The agreement covers high-efficiency crystalline solar cells compliant with the Approved List of Models and Manufacturers (ALMM). Vikram Solar said the pact will add to the solar cell supply agreements it has entered into earlier this year and support its strategy to diversify and strengthen its cell supply chain.

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Shares of Vikram Solar Ltd ended at ₹160.05, down by ₹0.30, or 0.19%, on the BSE.