Vikram Solar Ltd is going to enter the battery energy storage systems (BESS) segment as a strategy to diversify its portfolio, said Gyanesh Chaudhary, the chairman and managing director of the solar module manufacturer, which has filed draft papers for an initial public offering (IPO).
In an exclusive interview to Moneycontrol, Chaudhary also said Vikram Solar’s plan to set up a 3 gigawatt (GW) solar cell and module factory in Colorado now depends on what action US president-elect Donald Trump’s may take on the Inflation Reduction Act (IRA) rolled out by President Joe Biden to boost renewable energy production.
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