NEW DELHI Vikram Solar has been awarded a 350 megawatt (MW) solar module supply order from an Arizona-based independent power producer (IPP) in the US.
The Kolkata-headquartered company has a sales office in the US, and a procurement base in China.
The project will be located in Arizona and the new order further strengthens Vikram Solar’s presence in the US. It is aligned to the company’s commitment to accelerate clean energy transition in this market, Vikram Solar said in a statement.
Vikram Solar Vice-Chairman and Managing Director Gyanesh Chaudhary said, “It is a testament of the quality, innovation, consistent performance, and reliability of our solar PV modules. We endeavour to contribute towards harnessing the solar potential in the US and strengthen the country’s energy security. According to the International Energy Agency (IEA), over the next 4-5 years, the US has the potential of adding up to 20-25 gigawatt (GW) of solar energy annually.”
Chaudhary pointed out that the company is witnessing higher demand for high-quality Indian-made modules in the US aligned to the call for diversifying sourcing policies.
“Our established presence and experience in the US gives us the competitive edge to capitalise on the opportunities. We are focused on further strengthening our market share in the US and cater to the utility, commercial as well as residential customers,” he added.
Vikram Solar was the first Indian solar manufacturer to be recognised in PV Evolution Labs (PVEL) PV Module Reliability Scorecard in 2017. It has claimed the position of the ‘Top Performer’ in the PVEL PV Module Reliability Scorecard for four consecutive years and five times in the last six years.
The company is participating at the RE+ 2022 event being held in the US between September 19-22 in Anaheim. Vikram Solar will showcase its technologically advanced, high-efficiency product portfolio suited for the USA and for customers across segments - residential, commercial & industrial rooftop and utility-scale.
Last month, the Securities and Exchange Board of India (SEBI) gave a go-ahead for the company’s initial public offering (IPO), which includes a fresh issue of up to ₹ 1,500 crore. There is also an Offer-for-Sale (OFS) of up to 50 lakh shares.