Vikram Solar rose 9.5% on a deal to supply solar modules, while Servotech’s BESS manufacturing contract with Zhuhai Piwin New Energy boosted the stock up to 6%
Indian solar stocks shone brightly on Monday, as Vikram Solar surged nearly 10% after securing a significant order from L&T. Servotech jumped over 5% after inking a deal with China’s Pilot Group to manufacture battery energy storage systems.
Vikram Solar – L&T Construction Agreement For Solar Modules
Vikram Solar secured a significant order from L&T Construction to supply 336 MW of high-efficiency solar modules for the Khavda Renewable Energy Park in Gujarat.
As part of the deal, the company will deliver its advanced Hypersol G12R modules built on N-type technology, offering up to 80% bifaciality, superior performance in high temperatures, and minimal year-on-year degradation, according to an official press release.
Earlier this year, Vikram Solar bagged a 326 MW module supply order from Gujarat Industries Power Company (GIPCL) for the Khavda Renewable Energy Park.
Vikram Solar shares gained as much as 9.5% to ₹353.65 on Monday. Since its listing on the benchmark indices on August 26, this has been the company’s biggest intra-day gain so far.
Servotech Partners with China’s Pilot Group to Manufacture Battery Energy Storage Systems
Servotech announced an exclusive strategic partnership with Zhuhai Piwin New Energy Co (Pilot Group), China, on Monday. The collaboration focuses on technology transfer and domestic manufacturing of advanced Battery Energy Storage Systems (BESS) in India, in line with the government’s ‘Make in India’ initiative.
BESS solutions are crucial for maintaining grid stability, ensuring energy security, and enabling the integration of renewable energy sources on a round-the-clock basis.
Servotech’s shares were up 5.6% at ₹131.2 at the time of writing. It has shed over 21% so far this year.
GST Cut On Solar Products
Last week, the GST Council approved a lower tax rate for solar items, including solar panels, solar cookers, and other products used in solar manufacturing, to 5%, from 12% earlier.
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