Vikram Solar Limited has entered into a domestic procurement agreement with Jupiter International Limited for the supply of 2GW of ALMM-compliant crystalline solar cells, according to a regulatory disclosure.
The agreement that was valued at approximately ₹2,000 crores covers the procurement of high-efficiency TopCon and mono PERC solar cells. These technologies find their use widely in utility-scale and commercial solar projects due to their improved performance and energy yield. The company has disclosed the arrangement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, indicating that the agreement qualifies as a material development.
The procurement structure is a standard commercial supply agreement. Vikram Solar has clarified that there is no shareholding relationship, related-party involvement, special rights arrangement, or equity issuance linked to the transaction. The 2GW capacity is expected to support the company’s solar module manufacturing and project execution pipeline in India. ALMM-compliant solar cells are critical for projects seeking eligibility under government-backed schemes and regulatory frameworks.
By securing domestic cell supply through this agreement, Vikram Solar aims to strengthen its supply chain stability and maintain regulatory compliance in India’s growing renewable energy market.
