Vikram Solar and Indian Institute of Engineering Science and Technology ink MoU for R&D

Vikram Solar on Wednesday announced that it has signed Memorandum of Understanding (MoU) with the Indian Institute of Engineering Science and Technology (IIEST). The announcement was made at the Rashtrapati Bhavan in the presence of President of India, Pranab Mukherjee at a Session on Industry-Academia Collaborations with CII.

The agreement includes collaboration of both the organisations for the purpose of research and development for enrichment of knowledge in the area of solar photovoltaic, beneficial to both the academia and industry.

Both the organizations will also collaborate and identify key R&D areas (knowledge generation, know-how update, technology exploitation, system development, novel or new technology resources, applied research etc.) to address the immediate requirements of the country, arrange seminars and training programs on solar photovoltaic with active participation of faculties and students of IIEST and scientists of VSPL.

IIEST is recognized as one of the Centres of Excellence in Solar Energy by the Ministry of New and Renewable Energy (MNRE), Govt. of India.

Speaking on the occasion,  Gyanesh Chaudhary, MD and CEO, Vikram Solar, said “We are glad to announce this partnership. It is a proud moment for us to collaborate with the esteemed Institute for research and development purpose and in order to address the immediate requirements that the country faces in terms of developing advanced technological solar solutions.”

“Vikram Solar is among the leading PV companies in India. The company has already carved its positioning around the world and now it’s looking to further expand presence in the subcontinent though innovative products, projects and services. A grounded, well-knit, efficient and progressive Research & Development ecosystem is the building block of every kind of innovation and it also has the power to do away with an avalanche of issues that the country faces today. This is precisely why we view this partnership as an exceptionally beneficial one. We look forward to more such associations in the near future,” said Prof. Ajoy Ray, Director IIEST.

Talking about the company’s expansion plans, Ivan Saha, President and Chief Technical Officer, Vikram Solar said “We have structured plans to expand our manufacturing capability and emerge as the largest and the most integrated player in the PV industry in India. Vikram Solar aims to reach a manufacturing capacity of 2 GW by FY 2020.”