Vikram Solar Continues to Win PVEL's Top Performer Position Six Times in Last Seven Years

News provided by

May 23, 2023, 09:00 ET

- 'Top Performer' for the 5^th consecutive year

- Vikram Solar's PARADEA Mono PERC 144 cell Bifacial Glass-Glass modules won PVEL's Top Performer position

KOLKATA, India, May 23, 2023 /PRNewswire/ -- Vikram Solar, one of India's leading solar module manufacturers has been successful once again in claiming position of the 'Top Performer' in PVEL PV Module Reliability Scorecard 2023 by passing a rigorous PQP (Product Qualification Program) testing procedure. PVEL PQP is considered a virtual gold standard for module bankability across the solar industry. Vikram Solar's PARADEA Mono PERC 144 cell Bifacial Glass-Glass solar module, which has already been a hot favourite in the international market, appeared as top performer through PQP tests. Vikram Solar's stringent BOM selection criteria and robust process control on state of the art manufacturing lines have helped the company to consistently introduce top performer solar modules.

Mr. Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar shared on the achievement, "In pursuit of building an energy rich and sustainable future for all, we have always been focused towards quality, performance and innovation. Considering that, PVEL's PQP tests are quite rigorous; this current acclaim speaks aloud of our product performance and reliability. Our consistent ranking in industry leading solar module testing processes reaffirm our product positioning. We are certain that this recent listing will add to our ongoing efforts towards capacity expansion, new market penetration and allow us advantage to speed up solar deployment worldwide."

Vikram Solar's PARADEA Mono PERC 144 cell Bifacial Glass-Glass solar modules have been ranked Top Performer across the categories- Light-Induced Degradation (LID) + Light-elevated Temperature-Induced Degradation (LeTID), Damp Heat (DH), Mechanical Stress Sequence (MSS), Potential-Induced Degradation (PID) and PAN Performance. The test results show extremely low degradation and PAN performance is amongst the top quartile for energy yield in PVEL PVSyst simulation.

Tristan Erion-Lorico, VP of Sales and Marketing, PVEL, said, "Vikram Solar's modules have performed well in our Product Qualification Program and have thus received recognition in PVEL's PV Module Reliability Scorecard for 2023. We congratulate Vikram Solar on their sixth Scorecard appearance in demonstrating module reliability through PVEL's rigorous testing."

The Product Qualification Program (PQP) assessment was conducted by PVEL, a leading independent test lab for the downstream solar and energy storage industry. The rankings are based on results from rigorous, comprehensive testing programs. Top Performing modules showed less than 2% degradation for the entirety of the test sequence. The PVEL 2023 scorecard can be accessed on this link.

About Vikram Solar:

Vikram Solar Limited is one of the leading solar energy solutions provider, specializing in efficient photovoltaic (PV) module manufacturing and comprehensive EPC solutions, with an international presence across 32 countries, portfolio of 1.42 GW EPC projects (commissioned + under execution) and 1,899 employees. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturer in India with cumulative production capacity of 3.5 GW. Vikram Solar is a 'Top Performer' in PVEL's PV module reliability scorecard and has been included in the Tier 1 solar PV modules manufacturer list of BloombergNEF. Vikram Solar deploys technology to design, install and commission solar projects. The company has a distribution network connecting more than 40 cities, ensuring the availability of solar products and solutions across 600+ locations in India*.

*as on 31st Dec 2021

For further information contact:

Vinita Singh
[email protected]

Disclaimer: Vikram Solar Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus ("DRHP") with the Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, JM Financial Limited at https://www.jmfl.com/ and Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com, and the websites of the stock exchanges at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.

Photo: https://mma.prnewswire.com/media/2083295/Vikram_Solar_Logo.jpg

SOURCE Vikram Solar