Companies

Vikram Solar expanding; to invest ₹500 crore to produce panels, cells

Our Bureau Kolkata | Updated on January 22, 2018 Published on December 15, 2015

Gyanesh Chaudhary (left), Managing Director & CEO, Vikram Solar, and Samujjal Ganguly, Vice-President – Projects in Kolkata on Tuesday. -- Ashoke Chakrabarty

Gyanesh Chaudhary (left), MD & CEO, Vikram Solar, and Samujjal Ganguly, Vice President – Projects   -  Business Line

Vikram Solar Pvt Ltd, one of the top solar panel manufacturers, is expanding its manufacturing capacity to produce panels (from the present 500 MW to 1 GW) and is also getting into production of cells.

Gyanesh Chaudhary, MD and CEO of the Kolkata-based company, said an investment of Rs 500 crore has been envisaged for these projects. The projects would be implemented at its plant at Falta, near here, in two phases in the next three years.

“We would fund it through internal accruals and borrowings,” he said.

The company, which mainly depends on exports, recorded revenue of Rs 620 crore in 2014-15. It hopes to post a revenue growth of 40 per cent in this financial year. So far this year it has installed 70 MW solar panels, including rooftop modules at the Kolkata and Kozhikode airports.

Published on December 15, 2015
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