Vikram Solar Signs 2 GW Solar Cell Procurement Deal with Jupiter International Worth Rs 2,000 Cr

Vikram Solar has recently entered into a domestic cell procurement agreement with Jupiter International Limited to procure TOPCon solar cells and mono PERC solar cells, aggregating to 2 GW of ALMM-compliant crystalline solar cells. In a regulatory filing, Vikram Solar announced that it has agreed with Jupiter International to secure the order, aggregating to approximately Rs 2,000 crore. The order comes at a time when Vikram Solar is expanding its own cell making manufacturing, but with a significant mismatch vis a vis its module manufacturing capacity. the Jupiter deal narrows that gap. The new ALCM regime is set to take effect from June this year, when fresh projects will compulsorily have to used domestically manufactured cells as well. There is a clear gap between cell making and module capacity for now, which is expected tomput pressure on prices in the short to medium term.  Most of the cell making capacity outside of Jupiter International is in fact with manufacturers who will use it mostly for captive consumption. 

Vikram Solar Previous Projects

Vikram Solar's  Gangaikondan project, which comprises an AB-IV project being commissioned at Vallam, with execution focused on the Gangaikondan site, will house 6 GW of module manufacturing capacity and 12 GW of cell manufacturing capacity.

The project continues to progress as planned, with all statutory approvals in place and core site infrastructure completed, including access roads, construction power, and site offices. Civil works for both the module and cell facilities are ongoing in full swing. Construction activities at the module plant are underway, with structural works and roofing in progress, and the facility remains on track for commissioning in the first quarter of FY27.

At the cell plant, construction activities, including foundation and sub-structure works, are underway, with critical long-lead utility packages under finalisation. The company is on track for phased commissioning, with the first cell expected to roll out in December 2026. Overall, execution remains aligned with defined milestones, with continued focus on timely delivery and smooth ramp-up of these facilities.