CHENNAI: Vikram Solar has inked a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest Rs 15,037 crore in a Battery Energy Storage Systems manufacturing facility at SIPCOT Industrial Park, Gangaikondan, in Tirunelveli district.
The proposed investment is expected to generate around 2,670 employment opportunities, marking a significant step in strengthening Tamil Nadu's clean energy manufacturing ecosystem.
According to the government, the project will enhance the State's position as a hub for renewable energy, battery storage and advanced manufacturing technologies.
Vikram Solar already has a strong manufacturing presence in Tamil Nadu, operating solar photovoltaic (PV) module manufacturing facilities at Oragadam and Vallam.
The company is also in the process of commissioning an integrated solar manufacturing facility at Gangaikondan.
The Battery Energy Storage Systems facility will complement the company's existing investments and further expand the clean energy ecosystem being developed at Gangaikondan.
The government said the investment aligns with the State government's efforts to attract large-scale investments in renewable energy and emerging technologies while creating skilled employment opportunities.
The project is expected to reinforce Tamil Nadu's position as a leading destination for clean energy manufacturing and support its long-term sustainability and industrial growth objectives.