Vikram Solar Secures 378.75 MW Module Order from INGEL
Vikram Solar announced that it had received a procurement request for 378.75 MW of solar modules from Indian Oil NTPC Green Energy.
INGEL is a collaborative endeavor between Indian Oil Corporation Ltd and NTPC Green Energy Ltd, known as Indian Oil NTPC Green Energy Private Ltd.
Vikram Solar, a leading manufacturer of solar PV modules in India, has announced that it has successfully obtained an order to provide 378.75 MW of high-performance modules for a significant project initiated by NTPC Green Energy Limited (INGEL), a subsidiary of NTPC Ltd, as per an official statement from the company.
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The panels are set to be installed in close proximity to Nakhatrana within the Kutch district of Gujarat, forming part of the ambitious 600 MW solar initiative led by Indian Oil NTPC Green Energy Private Limited (INGEL), a partnership between Indian Oil Corporation Ltd and NTPC Green Energy Ltd.
The project serves to strengthen the company's foothold in a key renewable energy sector in India.
The company is required to provide its cutting-edge N-TOPCon modules, designed to offer improved performance, dependability, and energy output in large-scale installations. The commencement of delivery is anticipated to occur in the fiscal year of 2026.
Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar says, "This order marks an important milestone for Vikram Solar as we commence our first engagement with INGEL on a large-scale, strategically significant project in Gujarat".
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"It reinforces our ability to deliver high-performance N-TOPCon technology for complex utility-scale deployments, backed by execution certainty and manufacturing strength”.
Gujarat remains a key player in the growth of renewable energy in India, thanks to supportive policies, strong infrastructure, and significant increases in capacity. Vikram Solar Limited is a prominent Indian company that specializes in producing high-quality photovoltaic modules for solar energy systems. They have established a strong global presence in 39 countries.
At the conclusion of the December quarter of FY26, Vikram Solar reported an order book of 10.6 gigawatts. The company's investor presentation for Q3 FY26 highlighted a 28 percent year-over-year increase in its order book, which was recorded at 8.2 gigawatts at the conclusion of Q3 FY25.
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Domestic companies accounted for the placement of 84 percent of the company's orders, whereas 16 percent were designated for exports.
Independent Power Producers were responsible for 55 percent of the company's orders, with commercial and industrial clients contributing 21 percent. During the December quarter of the fiscal year 2026, Vikram Solar achieved sales totaling 796 megawatts of solar modules, resulting in revenue of Rs 1,106 crore.
Although the company experienced a modest 7.8 percent year-on-year growth in revenue for the quarter, its profits saw a substantial increase of 416 percent compared to the previous year.