Vikram Solar has outlined an integrated growth strategy focused on expanding renewable energy, strengthening domestic solar manufacturing, and entering the battery energy storage system (BESS) market, as the company scales its presence across the clean energy value chain. The roadmap, detailed in the company’s FY2025-26 annual report, includes significant investments in module manufacturing, solar cell production, and energy storage to support India’s energy transition.
Vikram Solar said it has built an 8.2 GW order book as of March 31, 2026, driven primarily by independent power producers (IPPs), government projects, commercial and industrial (C&I) customers, and EPC contracts. The company manufactures a range of advanced photovoltaic modules, including HJT, N-type, Mono-PERC and bifacial products, while offering end-to-end engineering, procurement and construction (EPC) and operations and maintenance (O&M) services.
To strengthen supply chain integration, the company is expanding into solar cell manufacturing through a phased backward integration strategy. Vikram Solar plans to establish 9 GW of solar cell manufacturing capacity by FY27, increasing to 12 GW by FY28, with a target of achieving nearly 90% backward integration. The integrated manufacturing campus at Gangaikondan, Tamil Nadu, will house module, cell, wafer and ingot production facilities, enabling greater control over manufacturing quality, costs and supply chain resilience.
The company’s technology roadmap is centred on TOPCon cell technology, with planned upgrades to TOPCon+, future adoption of XBC technology, and eventual integration of ingot and wafer manufacturing. Vikram Solar said its manufacturing facilities are designed to support future technology transitions while maintaining operational efficiency.
In addition to solar manufacturing, Vikram Solar is entering the battery energy storage segment through its wholly owned subsidiary VSL PowerHive Pvt. Ltd. The company plans to establish a 7.5 GWh BESS assembly facility by FY27, followed by a 7.5 GWh cell manufacturing plant by FY29, before developing a 15 GWh integrated cell and BESS manufacturing facility by FY30. Over the long term, Vikram Solar aims to build 30 GWh of integrated BESS manufacturing capacity, positioning itself among India’s largest energy storage manufacturers.
The BESS business will serve residential, commercial and industrial, utility-scale and e-mobility applications under the VION battery brand and the PowerHive platform. The company said the integrated solar-plus-storage strategy is designed to address grid flexibility, renewable energy intermittency and round-the-clock power requirements while leveraging its existing relationships with developers, EPC contractors, DISCOMs and C&I customers.
Vikram Solar also highlighted the commissioning of its 5 GW Vallam manufacturing facility in Tamil Nadu, which has increased the company’s total solar module manufacturing capacity to 9.5 GW. The facility incorporates advanced automation, AI-enabled quality inspection, and manufacturing lines compatible with TOPCon and future HJT technologies to improve production efficiency and product reliability.
According to the company, the integrated expansion strategy is intended to strengthen domestic manufacturing capabilities, improve supply chain resilience and support India’s transition towards a self-reliant clean energy ecosystem through advanced solar and energy storage technologies.
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