Vikram Solar Ltd. on Wednesday received an order to supply 378.75 megawattt of high-efficiency modules for a major project tendered by NTPC Green Energy Ltd. in Gujarat. The deal value has not been disclosed.
The modules will be deployed near Nakhatrana in the Kutch district of Gujarat as part of the 600 MW solar project by Indian Oil NTPC Green Energy Pvt. Ltd. (INGEL), a joint venture between the two PSU companies, a statement said.
Vikram Solar will supply its advanced N-TOPCon modules, engineered to deliver enhanced performance, reliability, and energy yield in utility-scale installations. The delivery is expected to be completed within six months, the statement added.
The Kolkata-headquartered company is one of the largest PV module manufacturers in India with cumulative production capacity of 9.5 GW. The company's order book stood at 10.6 GW as on Dec. 31, of which 84% are domestic and 16% exports.
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Vikram Solar Share Price Movement
Shares of Vikram Solar fell as much as 7.8% to an all-time low of Rs 171 on the NSE, after US President Donald Trump set preliminary duties of 126% on solar imports from India after determining the country unfairly subsidised manufacturing. The US was a key opportunity market for the company.
The stock has lost half its value since listing on the BSE and NSE in August last year. The relative strength index was 56.
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