India’s tier-one solar module manufacturer Vikram Solar has signed an agreement with UK distributor Edmundson Electrical Greentech (EEG).
The company is to supply its Eldora Ultima modules for total capacity of 25MWp to EEG for distribution in the UK photovoltaic market. In April, Vikram Solar had struck a similar deal with EH Smith Builders Merchants.
The company has been active in the Indian solar power market and is credited with the first floating solar project of the country.
In January the company launched the research and development installation which uses ten 1-kilowatt peak fiberglass photovoltaic modules that produce 14 MWh of solar power annually.
In May, the Kolkata-based solar company announced plans to increase its output in West Bengal by more than thrice by end of this fiscal.
At that time Gyanesh Chaudhary, the managing director and CEO of Vikram Solar, said had set August as the deadline for completion of phase-1 expansion of its module manufacturing unit at Falta in West Bengal by 250 MW.
The second phase of a similar capacity will be brought on track in the another six to eight months, Chaudhary had told Economic Times then.
By 2018, Vikram Solar plans to further expand its production capacity to 1.2 GW by way of a project funded in 60:40 debt-to-equity ratio. Vikram Solar also has plans to expand to other states. Rajasthan, Madhya Pradesh and Tamil Nadu are being considered for the establishment of production units.
In the last fiscal Vikram Solar had grossed sales of more than Rs 600 crore. And this fiscal the company has forecast its growth to increase by 40 to 60 percent, given the congenial investment atmosphere being generated by the incumbent government.
Ajith Kumar S