Reaching 1 GW of module production capacity means that Vikram is now one of only two companies having such capacity levels in India. It celebrated the occasion at Intersolar Munich 2017 in early June.
- Vikram Solar of India has increased its module manufacturing capacity to 1 GW from the previous 500 MW
- The company has also shared that it plans to increase the capacity to 2 GW by 2020
- It is now the only Indian company to have hit the 1 GW manufacturing milestone
- India is looking at increasing its indigenous manufacturing capacity to 4 GW to 5 GW by 2020
Indian solar module manufacturer Vikram Solar has increased its solar module production capacity to 1 GW from the earlier 500 MW. The company is now planning to further increase its manufacturing capacity to 2 GW by 2020.
“Our strategy is geared towards highly-efficient production, high quality and international marketing,” said CEO Gyanesh Chaudhary. Adding, “This drives the Indian solar industry forward, and also creates momentum on an international level,” said CEO Gyanesh Chaudhary.”
At the end of December 2016, India’s installed capacity of solar cells and modules was 2,953 MW and 8,113 MW, respectively.The operational capacity was only 1,448.05 MW for cells and 5,286.55 MW, according to the Ministry of New and Renewable Energy (MNRE). The country is aiming to increase its indigenous manufacturing capacity to the tune of 4 to 5 GW by 2020.
There are now two companies in India with module capacities exceeding 1 GW – Vikram and Adani, which started its 1 GW module facility end of 2016 (see Adani Starts 1 GW Module Production). Though somewhat smaller, India’s Tata Power Solar recently announced doubling its manufacturing capacity of cells to 200 MW and modules to 400 MW (see Tata Strongly Expands PV Production Capacity).
With India losing to the US at the WTO with regard to the former’s domestic content requirement (DCR) and Indian market flooded with low cost modules from across the world, especially China, the domestic manufacturing capacity is struggling to take off. It has prompted Indian modules makers to take stance against Chinese module makers (see Indian Anti-Dumping Petition Against China).
The manufacturing facility of Vikram Solar is located in the Indian state of Kolkata. Also active in the field of EPC and operations & maintenance, Vikram Solar said its revenue in FY 2016-17 grew to 17 billion INR ($264.47 million), increasing from 9 billion INR ($140 million) generated a year before.