Vikram Solar Goes Big on BESS: A ₹4,371 Crore Expansion

Vikram Solar’s Board has approved a capital expenditure of Rs 4,371 crore for the company’s entry into the battery energy storage systems (BESS) market through its wholly owned subsidiary, VSL Powerhive.

The BESS initiative will initially focus on lithium-ion battery packs, with plans to establish a manufacturing facility with a capacity of five gigawatt-hours (GWh), which is expected to be commissioned by FY27. In parallel, Vikram Solar reported a more than fivefold increase in net profit for the third quarter of the current financial year, driven by strong volume growth and improved operational efficiency. Module sales rose by 35 percent to 796 MW in Q3FY26, compared to 590 MW in the corresponding period of the previous year, while capacity utilisation reached 90 percent during the quarter.

Commenting on the performance, Gyanesh Chaudhary, Chairman and Managing Director of Vikram Solar, said the company delivered a resilient and disciplined performance, supported by robust execution volumes and continued improvements in operating efficiency.

News by Rahul Yelligetti.