Vikram Solar Limited , a leading Indian solar module manufacturer, has announced two significant developments that underscore its growth trajectory and commitment to employee welfare.

Major Supply Deal with AB Energia

Vikram Solar has secured a substantial order for 200 MW of high-efficiency solar modules from AB Energia Solutions Private Limited. The deal, valued at approximately Rs. 273.00 crores, involves supplying advanced M10R N-Type TOPCon modules rated at 590 Wp and above. These modules are slated for deployment across Maharashtra, Madhya Pradesh, and Gujarat, supporting the solar energy initiatives in these states.

The supply is scheduled to commence in September 2025 and continue through early 2026, highlighting a medium-term commitment between the two companies. This order not only reinforces Vikram Solar's position in the market but also demonstrates the growing demand for high-performance solar solutions in India's rapidly expanding renewable energy sector.

Gyanesh Chaudhary, Chairman & Managing Director of Vikram Solar, expressed pride in the continued collaboration, stating, "This order not only reflects the continued trust from AB Energia in our technology and execution but also reinforces Vikram Solar's position as a dependable and future-ready solar solutions provider."

ESOP Plan Ratification

In a separate development, Vikram Solar is seeking shareholder approval to ratify its 'VIKRAM SOLAR EMPLOYEE STOCK OPTION PLAN – 2021' (ESOP 2021). This move comes in the wake of the company's recent listing on the National Stock Exchange of India Limited and BSE Limited on August 26, 2025.

Key points of the ESOP 2021 include:

• A total of 1,30,00,000 equity shares (5.02% of the diluted equity share capital) are allocated under the plan.
• The vesting period ranges from a minimum of one year to a maximum of five years from the date of grant.
• The plan extends benefits to employees of holding companies, subsidiary companies, and group companies.

The company is also seeking approval to determine fees for document delivery to members through particular modes of service.

Vikram Solar has initiated a postal ballot process for these approvals, with e-voting scheduled from September 16, 2025, to October 15, 2025. The cut-off date for eligibility to vote is set at September 10, 2025.

These developments reflect Vikram Solar's dual focus on business growth and employee engagement as it navigates its post-IPO phase in the competitive solar energy market.

Key Details of ESOP 2021

Vikram Solar's strategic moves in both business expansion and employee incentivization underscore its commitment to maintaining its position as a key player in India's renewable energy landscape.

Vikram Solar Limited , a leading Indian solar module manufacturer, has clinched a significant order worth approximately Rs. 273.00 crores from AB Energia Solutions Private Limited. The deal involves the supply of 200 MW of high-efficiency solar modules, marking a substantial boost for India's renewable energy sector.

Order Details

The order specifics include:

• Supply of M10R N-Type TOPCon modules
• Module efficiency rating of 590 Wp and above
• Delivery schedule: September 2025 to March 2026
• Deployment across Maharashtra, Madhya Pradesh, and Gujarat
• Focus on commercial and industrial solar projects

Strategic Partnership

This order reinforces the ongoing partnership between Vikram Solar and AB Energia, highlighting their shared commitment to advancing India's clean energy transition. The collaboration underscores the trust placed in Vikram Solar's technology and execution capabilities.

Executive Insights

Mr. Gyanesh Chaudhary, Chairman & Managing Director of Vikram Solar, expressed pride in the continued collaboration, stating, "This order not only reflects the continued trust from AB Energia in our technology and execution but also reinforces Vikram Solar's position as a dependable and future-ready solar solutions provider."

Mr. Siddharth Bhatia, Managing Director & CEO of AB Energia Solutions Pvt. Ltd., emphasized the significance of the partnership, noting, "Our continued association with Vikram Solar reflects our shared assurance to engineering excellence and maximizing value for our clients."

Company Profile

Vikram Solar Limited has established itself as a key player in the solar energy sector with:

• Cumulative production capacity of 4.5 GW
• Presence in 39 countries
• Recognition as a 'Top Performer' in PVEL's PV Module Reliability scorecard 2025
• Inclusion in Bloomberg NEF's Tier 1 solar PV modules manufacturer list

Market Impact

This substantial order is expected to contribute significantly to the solar energy landscape in Maharashtra, Madhya Pradesh, and Gujarat. It aligns with India's ambitious renewable energy goals and demonstrates the growing demand for high-efficiency solar solutions in the commercial and industrial sectors.

The deal, valued at approximately Rs. 273.00 crores, represents a one-time domestic order with no related party transactions involved. This development is likely to strengthen Vikram Solar's market position and support the company's growth trajectory in the competitive solar module manufacturing industry.