Vikram Solar, India’s leading solar photovoltaic (PV) module manufacturer, is all set to enter the solid state cell and battery manufacturing space. The company will be setting up a fully integrated solid state cell and battery manufacturing facility with 1 GWh initial capacity which will be expanded to 5 GWh in future to meet the growing demand of global energy market.
India Towards Self-reliance
Gyanesh Chaudhary, Chairman, and Managing Director, Vikram Solar said, “Our solid-state batteries will be developed and manufactured using components made in India. This is in line with the ‘Atmanirbhar Bharat’ campaign and supports the country’s renewable energy and climate goals.
Vikram Solar has partnered with Entity2 Energy Storage for technical collaboration. The company has several patents in battery technology which will help Vikram Solar manufacture high-performance non-lithium solid-state batteries.
Read Also: Ahead of IPO, Vikram Solar Expands and Upgrades Production Capacity to 4.5 GW
Benefits of Solid State Batteries
Solid-state batteries have several advantages over lithium-ion batteries:
✔ Higher Energy Density– Minimizes loss of electroactive material.
✔ Improved Safety– Reduced risk of fire and overheating.
✔ Longer Life Span– Can maintain stable performance up to 10,000 charging cycles.
✔ Wide Temperature Range– Can operate in a wide temperature range.
✔ Fast Charging– Can maintain stability up to 5C charging rate.
✔ Environmentally Friendly– Recyclable and no harmful substances.
Growing Need for Battery Storage in India
As per Crisil’s report, India currently meets only 15-20% of its total energy requirements from renewable sources. However, the government has set a target of 50% of its energy from renewable sources by 2030. To achieve this target, additional investments will be required in battery storage solutions to connect variable energy sources like solar and wind power to the grid.
Crisil estimates that 23-24 GW of battery energy storage system (BESS) capacity will be added between FY25 and 2030Given this growing demand, Vikram Solar is-moving towards offering integrated energy solutions that include both power generation and storage.
Investments and expansion plansThe company has not disclosed the investment and timeline of the project yet. However, the company’s strong R&D capabilities and extensive partner network gives it an edge.
Vikram Solar is headquartered in Kolkata and has 4.5 GW of solar PV module production capacity. The company has been ranked as the ‘Top Performer’ in PVEL’s PV Module Reliability Scorecard and is a Tier 1 Solar PV Module Manufacturer by BloombergNEF.
India’s Renewable Energy Sector
India’s renewable energy sector is growing rapidly. Bhadla Solar Park (2.25 GW in Rajasthan and Pavagada Solar Park (2 GW) in Karnataka are playing a significant role in this.
Further, states like Tamil Nadu, Gujarat, and Maharashtra are leading in wind power generation and contribute to more than 60 of the country’s total wind power capacity.
The Indian government is also attracting investments in the sector through initiatives such as the National Solar Mission, renewable energy parks, and the Production Linked Incentive (PLI) scheme. Also, India plans to become a global leader in green hydrogen production, with a target of producing 5 million metric tonnes annually by 2030.
Read Also: Vikram Solar Will Get Into Battery Energy Storage Systems: CMD Gyanesh Chaudhary
Challenges and Future Prospects
But India’s renewable energy sector also has some challenges:
🔹 High cost of renewable energy projects.
🔹 Large land required for solar and wind power plants.
🔹 Need to improve energy storage and distribution infrastructure.
But with increasing investments, government support, and technological advancements, India is moving fast towards being a global leader in clean energy.
Vikram Solar’s entry into solid-state battery manufacturing is a big step in that direction, providing long-lasting high-performance energy storage systems. As the demand for continuous clean energy is increasing, Battery Energy Storage Systems (BESS) will be the key to energy security and reducing dependence on fossil fuels.
By entering solid-state battery manufacturing, Vikram Solar is going to make a big contribution to India’s renewable energy landscape and lead the country towards a green self-reliant future. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.