A ₹2,000 crore strategic partnership between Vikram Solar Limited and Jupiter International Limited for 2 GW of ALMM-compliant solar cells marks a significant step in India’s manufacturing push — as Vikram Solar accelerates toward 15.5 GW module and 12 GW cell capacity by FY27
In one of the largest domestic procurement deals in the Indian renewable space, Kolkata-based Vikram Solar has entered into a strategic agreement with Jupiter International to secure 2 GW of high-efficiency solar cells. The deal, valued at approximately ₹2,000 crore, marks a significant step toward vertical integration and supply chain de-risking for the solar major.
High-Efficiency Play : TopCon & Mono PERC
Under the terms of agreement executed on February 20, Jupiter International will supply ALMM-compliant TopCon (Tunnel Oxide Passivated Contact) and Mono PERC solar cells.
While Mono PERC remains the industry workhorse due to its cost-to-performance ratio, the inclusion of TopCon cells underscores Vikram Solar's pivot toward next-generation technology. TopCon cells offer superior efficiency and better temperature coefficients, making them ideal for high-performance utility-scale projects.
The ALMM Advantage
The timing of the deal is strategic. With the Ministry of New and Renewable Energy (MNRE) tightening the Approved List of Models and Manufacturers (ALMM) mandate for government-backed projects, securing a steady domestic supply of cells is no longer optional—it is a competitive necessity.
"Long-term sourcing partnerships are becoming the bedrock of India’s solar manufacturing ecosystem," noted an industry analyst. "This deal provides Vikram Solar with the visibility needed to execute its massive order book without relying on volatile import markets."
Vikram Solar’s Aggressive Roadmap
Founded in 2005 and headquartered in Kolkata, Vikram Solar is one of India’s leading manufacturers of high-efficiency photovoltaic (PV) modules, The procurement aligns with Vikram Solar’s ambitious expansion targets. Currently operating at a module capacity of 9.5 GW, the company is sprinting toward :
● 15.5 GW module manufacturing capacity by FY27.
● 12 GW in-house solar cell manufacturing capacity.
● 30 GWh total target for Battery Energy Storage Systems (BESS).
Scaling the Value Chain
For Jupiter International, which operates a 1 GW+ facility in Baddi, Himachal Pradesh, the deal cements its position as a Tier-1 cell supplier in India’s upstream ecosystem.
As India targets 500 GW of non-fossil fuel capacity by 2030, such large-scale domestic "offtake" agreements are expected to become the norm, reducing the industry’s historical dependence on Chinese imports and strengthening the "Make in India" narrative in the energy sector.
Related Coverage by Urja Kranti India :-
