Vikram Solar and ACME surge after renewable energy orders

Three solar companies, Vikram Solar, ACME Solar and SPML Infra, announced major contract wins on Monday. This instantly sparked a strong interest in their shares. The deals span renewable energy and water infrastructure – sectors that are drawing heavy investment as India pushes its sustainability agenda.

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Vikram Solar has received a significant contract from L&T Construction for 336 MW of EPC (engineering, procurement, and construction) high-efficiency solar modules to be installed in Khavda, Gujarat. The company will deliver its latest Hypersol G12R modules, designed with N-type technology and bifaciality of up to 80 per cent. The modules also promise minimal degradation (≤0.4 per cent) and high performance in tough temperature conditions. According to Vikram Solar, this will lower the Levelised Cost of Energy (LCOE), improving affordability of solar power.

Gyanesh Chaudhary, Chairman & Managing Director of Vikram Solar, said, “The region holds immense potential for solar energy, and this project will play a pivotal role in harnessing that opportunity. Each project we deliver is a testament to the trust placed in Vikram Solar’s technology, performance, and commitment to excellence.”

ACME Solar, another clean energy player, announced an order for a 2 GWh Battery Energy Storage System (BESS) with Chuzhou Lishen New Energy Technology Co., Ltd., routed through POSCO International Corporation and China FAW Group Import & Export Co., Ltd. Energy storage is increasingly vital for India’s renewable integration, as it helps stabilise the grid and ensures round-the-clock supply. The phased delivery of the BESS will support ACME’s FDRE and standalone storage projects over the next 12 to 18 months.

Meanwhile, SPML Infra, in joint venture with JWIL Infra, bagged a INR 1,438 crore (USD 1631 million) order from Rajasthan’s Public Health Engineering Department under the Jal Jeevan Mission. The project covers construction and 10 years of operations and maintenance. “We are honoured to partner with the Government of Rajasthan on this vital Jal Jeevan Mission project, which will provide safe drinking water to more than 1.5 million people in Dholpur,” said Abhinandan Sethi, Managing Director of SPML Infra.

On the market front, Vikram Solar rose 5.81 per cent to INR 341.60 (USD 3.87), ACME Solar gained 4.39 per cent at INR 309.30 (USD 3.51), while SPML Infra edged down 0.65 per cent to INR 290.55 (USD 3.30).

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