Strategic domestic supply agreement to source high-efficiency TopCon and mono PERC cells strengthens India’s solar manufacturing ecosystem
Indian solar company, Vikram Solar Limited has inked a strategic domestic cell procurement agreement with Jupiter International Limited to source high-efficiency solar cells aggregating to 2 GW, strengthening its domestic manufacturing supply chain.
Under the agreement, executed on February 20, 2026, the company will procure high-efficiency TopCon solar cells and mono PERC solar cells.
According to a regulatory filing submitted to the BSE Ltd. and the National Stock Exchange of India Ltd. the total size of the agreement is approximately ₹2,000 crore,
The solar cells to be supplied under the agreement are ALMM-compliant crystalline cells. The Approved List of Models and Manufacturers (ALMM) framework is designed to promote domestic manufacturing and ensure quality standards in India’s solar sector.
The partnership is aimed at securing a steady supply of advanced photovoltaic cells, including Tunnel Oxide Passivated Contact (TopCon) technology, which is known for higher efficiency and improved performance compared to conventional cell technologies.
Mono PERC (Passivated Emitter and Rear Cell) technology also remains widely deployed in utility-scale and rooftop solar installations due to its cost-effectiveness and performance benefits.
In its disclosure, Vikram Solar confirmed that the transaction does not fall under related party transactions and that there is no shareholding relationship between the two companies in connection with this agreement. No special rights, board nominations, or capital structure changes are involved in the deal.
The agreement comes at a time when India’s renewable energy sector is witnessing growing demand for domestically manufactured solar components amid policy support for local value addition.
By securing 2 GW of ALMM-compliant crystalline solar cells, Vikram Solar is expected to enhance its execution capabilities across upcoming solar projects while aligning with the government’s push for self-reliance in clean energy manufacturing.
The company stated that the disclosure has also been made available on its official website in compliance with regulatory requirements.