Indian solar PV module manufacturer Vikram Solar will supply 250MW of n-type modules to the Bondada Group.
Under the supply agreement, the firm will deliver n-type modules for a project in Maharashtra, with shipments scheduled to begin in FY 2025-26. According to the firm, the agreement aligns with Vikram Solar’s goals and will contribute meaningfully to Maharashtra’s renewable energy capacity.
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Bondada Raghavendra Rao, managing director of the Bondada Group, said that this partnership will help the firm achieve its ambition of “10GW renewable capacity by 2030.”
Furthermore, he added: “With over 3GW of projects currently in hand, and more opportunities emerging through trusted partnerships like this, we are confident of delivering purpose-led infrastructure with speed, innovation, and execution excellence.”
The Kolkata, India-headquartered Vikram Solar has an installed capacity of 4.5GW. It operates manufacturing facilities in Kolkata and Chennai and aims to scale capacity to 10.5GW by FY 2026 and 15.5GW by FY 2027. Recently, the firm expanded outside India through a joint venture with Phalanx Impact Partners and Das & Co. to establish a 6GW vertically-integrated solar manufacturing operation in Colorado, US.
Recently, Vikram Solar received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO) and raise capital through the public markets.
Additionally, the company is setting up an integrated manufacturing facility with a capacity of 3GW each for solar cells and modules in Tamil Nadu through its wholly owned subsidiary, VSL Green Power Private Limited. For this, it allocated INR793.36 crore (US$13 million) from the IPO proceeds.
In May 2025, Vikram Solar signed a 326.6MW module supply agreement with Gujarat State Electricity Corporation Limited (GSECL) for the 2.3GW Khavda Solar Park in Gujarat.
This brought the company’s total contribution to the project to over 700MW, following a June 2024 deal to supply 393.9MW of 580Wp n-type tunnel oxide passivated contact (TOPCon) modules. While the technology for the latest order was not disclosed, delivery is scheduled for FY 2025-26.
