August 5, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Vikram Solar to set up 1.5 Gw module manufacturing unit in Tamil Nadu

Kolkata-based Vikram Solar is expanding its presence with setting up of 1.3 Gw of solar PV module in Indospace Industrial Park, Oragadam, The company said with this facility unit, Vikram Solar’s cumulative PV module capacity will reach 2.5 Gw, which is currently the largest in India. This would be the first solar facility for the state of

Senior company executives said the capital invested to the tune of Rs 200 crore would be invested in the latest facility. Unlike its existing manufacturing unit, the new facility is not in SEZ, which makes it eligible for the duty reliefs that the Centre has given to the domestic solar manufacturing industry.

Vikram Solar’s manufacturing footprint consists of 1.2 Gw facility in Falta, West Bengal and the new facility of 1.3 GW in Chennai, The company has shipped over 3.5 Gw PV modules globally.

“This is an extension of our endeavour to provide high quality, reliable, technologically superior products and timely delivery to our customers. It will further contribute as an R&D platform for next-gen module technology. We have extensively leveraged digitization to ensure reliable and efficient manufacturing operations. We thank the Tamil Nadu government for their continued support and conducive environment to enable ease of doing business within the state,” said Gyanesh Chaudhary, Managing Director, Vikram Solar.

The company in a public statement said, they have implemented digital production display board, the Internet of Things (IoT), Artificial Intelligence (AI) enabled inspection for zero defect amongst various such emerging technologies.

The digitization initiatives enable seamless process like lean manufacturing, reducing and controlling wastages, it said.

Vikram Solar is aiming to be a 5 Gw manufacturing capacity company. Saibaba Vutukuri, CEO, Vikram Solar said the PLI scheme for solar manufacturing would also push capacity addition. “The valuation of our 5 Gw capacity would stand at Rs 5,000 crore. We would be evaluating the PLI scheme for adding manufacturing capacity to reach 5 Gw” he said.

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