Kolkata-based solar module manufacturer Vikram Solar has received an order for 148.9 MW of high-efficiency solar modules from renewable energy solutions provider Sunsure Energy.

Vikram Solar will provide its M10R N-Type TOPCon modules rated at 595 W, which will be deployed across Uttar Pradesh and Maharashtra.

Vikram Solar has a cumulative module manufacturing capacity of 4.5 GW. It plans to increase this capacity to 17.5 GW. It also aims to backward integrate by entering cell manufacturing, targeting a capacity of 12 GW by the financial year 2027.

The company has an order book of 11.15 GW as of September 30, 2025, catering to 85% domestic market and the rest for exports. Nearly 52% of the orders are from independent power producers, 20% from commercial and industrial consumers, 13% from distribution companies, 8% from government projects, and 7% from engineering, procurement, and construction contractors.

This year, Vikram Solar received an order for 326 MW of modules from Gujarat Industries Power Company.

In September, the company secured an order from AB Energia Solutions for the supply of 200 MW of solar modules, valued at approximately ₹2.73 billion (~$32.63 million). The agreement will see the modules deployed across Maharashtra, Madhya Pradesh, and Gujarat. According to the company, the modules covered under this agreement are Vikram Solar’s M10R N-Type TOPCon modules rated at 590 W and above.

In the same month, Vikram Solar received an order to supply 336 MW of solar modules from L&T Construction for the latter’s project in the Khavda Renewable Energy Park. As part of this order, Vikram Solar will supply its Hypersol G12R modules, built on N-type technology.

In August, Vikram Solar’s initial public offering was oversubscribed 54.63 times at the end of the bidding window. Of the total proceeds from the IPO, ₹7.93 billion (~$92.42 million) will be deployed for partial funding of an integrated solar cell and module manufacturing facility.