Vikram Solar Ltd., one of India’s leading solar PV module manufacturers, announced a major order win of 148.9 MW of high-efficiency solar modules from Sunsure Energy Pvt. Ltd., a prominent renewable energy solutions provider.
Under the filing with the BSE and NSE dated October 23, 2025, Vikram Solar will provide its advanced M10R N-Type TOPCon modules, each with a rating of 595 Wp, to projects located in Maharashtra and Uttar Pradesh. It is likely that the order will be fulfilled in less than 60 days after the Notice to Proceed, which should be issued by January 2026.
This recent success is a continuation of the good project base of Vikram Solar, who has secured 200 MW, 336 MW, and 326 MW contracts in the past by AB Energia, L&T Construction, and Gujarat Industries Power Company Limited. These are deals that have made the company more central in aiding India to get nearer to its objective of 500 GW non-fossil fuel capacity by 2030.
Commenting on the development, Gyanesh Chaudhary, Chairman and Managing Director of Vikram Solar, said, “We are moving swiftly and decisively toward our national goals, and collaborations like this sustain that progress. By combining technological excellence with strong industry partnerships, we are not just accelerating project execution but also strengthening the collective ecosystem that will power India’s clean energy future.”
Co-founder and Chief Commercial Officer of Sunsure Energy, Manish Mehta, noted that the joint venture fits the vision of the company to offer industries a dependable green energy project by using solar and modern battery energy storage systems (BESS).
Vikram Solar is headquartered in Kolkata and has a cumulative production capacity of 4.5 GW and is present in 39 countries worldwide. The company was listed as a Tier-1 manufacturer of solar PV modules by Bloomberg NEF and a Top Performer in the PVEL 2025 PV Module Reliability Scorecard.
Focusing on the growth strategy of the company, Chaudhary said Vikram Solar was setting up a world-class solar cell plant in Gangaikondan, Tamil Nadu, that would be rolled out in two phases—3 GW and 9 GW—which is expected to be commissioned by the end of FY2027. The project is meant to enhance supply chain management and avoid relying on third-party suppliers.
He further added that Vikram Solar is following a balanced funding mix, utilizing IPO proceeds, debt, and internal accruals to finance its expansion ambitions.
“Aligning capital deployment with policy incentives like the PLI scheme and state-level benefits ensures long-term financial resilience and positions us to invest in advanced technologies at scale,” Chaudhary said.
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