Vikram Solar to venture into fully integrated solid- state cell and battery manufacturing Company to launch a IGWh facility, expandable up to 5 GWh

​Vikram Solar, one of India's largest solar photo-voltaic ("PV") module manufacturing company in India, plans to setup a IGWh fully integrated Solid-state Cell and Battery manufacturing facility with proprietary Battery Management System (BMS) technology. This facility, initially designed to scale up to 5 GWh, is expected to cater to the growing energy demands of a rapidly evolving global market. This venture by Vikram Solar is poised to contribute to the energy storage landscape by delivering sustainable, innovative battery solutions with improved performance. Vikram Solar's experience in solar PV module manufacturing, amalgamated with solid-state battery technology, is expected to meaningfully contribute to a cleaner and greener future, drive technological advancements, and foster economic growth. Mr. Gyanesh Chaudhary, Chairman & Managing Director, Vikram Solar shared, "Vikram Solar has always worked towards contributing to India's renewable energy transformation and continues to drive large-scale solar adoption. Our solid-state batteries, developed and manufactured with majority components which are India-made, support Atmanirbharta' and align with India's renewable energy and climate goals. Leveraging the technology of our partners, Entity2 Energy Storage Pvt ltd., which holds several patents for non-lithium solid-state battery technologies, we are committed to producing batteries that can be scaled up to meet the growing energy needs. As per CRISIL Report, at present India meets only -15-20% of its power requirement from renewable energy and the revised target is 50% of its energy requirements from renewable energy by 2030. To accommodate such a high proportion of variable generation in the overall energy mix, there will be a need of additional investment in battery storage.Vikram Solar's PowerHive Battery Storage is our response to this need. As per CRISIL Report, projections are showing a 23-24 GW capacity addition in Battery Energy Storage Systems (BESS) over the fiscal years 2025 to 2030."• Greater power storage: Minimal loss of electroactive metal enables batteries with greater power storage. • Enhanced Safety: The use of this technology in batteries is both thermal and fire hazard safe. • Wider Stability: Works in a wide range of temperature and operating conditions and no dendrite formation in the batteries.• Our batteries are stable for a Long Life of 10,000 cycles. • Improved Performance: Stable at charge rate of 5C, offering efficiency and improved performance. • Atmanirbharta: Majority raw materials are sourced domestically, ensuring supply chain resilience and supporting local industries. • Sustainability: The entire product is recyclable and eco-friendly and manufactured from non-hazardous components, minimizing environmental impact By creating energy storage solutions, the company is contributing towards addressing energy security and sustainability challenges across the world. As demand for round-the-clock clean energy grows, Battery Energy Storage Systems (BESS) present a key solution for efficient energy storage. Through the addition of BESS to its portfolio, Vikram Solar aims to offer an integrated solution that combines power generation and storage, enhancing further our position as a one stop solution provider. Our existing partner network and R&D capabilities offer us a competitive edge to develop disruptive innovation in battery chemistry.