Vikram Solar bags order for supply of 350 MW of modules

Vikram Solar has bagged a 350 MW module supply order from a leading independent power producer in the US. These modules will be supplied by the company for a project in Arizona. After this order, the company’s consolidated export portfolio in the US now stands at around 700 MW across Arizona, Texas, and the West Coast. According to the company, there is an increasing demand for high-quality Indian modules in the US markets, which is in line with the company’s call to diversify sourcing policies.

Recently in August 2022, Vikram Solar received approval from capital markets regulator Securities and Exchange Board of India to raise funds through an initial public offering (IPO). The IPO will comprise a fresh issue up to Rs 15 billion and an offer for sale of up to 5 million equity shares by shareholders. The company received its observation letter on August 10, 2022.