Vikram Solar Targets Higher Market Share as AI and Data Center Demand Boosts Green Energy Push
Kolkata-based solar energy major Vikram Solar is positioning itself to capture a larger share of India’s renewable energy market as demand accelerates, driven by the rapid expansion of artificial intelligence and data center infrastructure.Chairman and Managing Director Gyanesh Chaudhary said the company currently commands around 10 to 12 percent of the domestic market and expects this share to rise steadily over the next two financial years.
AI and Data Centers Seen as Major Growth Catalyst
Chaudhary described AI and data centers as a transformational opportunity for India’s renewable energy sector.“Regarding AI and data centers, it’s a huge opportunity. It’s unprecedented how this will impact renewable energy. It’s a huge opportunity for India. AI will not operate without renewable energy, that’s a fact,” he said.
According to him, the surge in AI-led infrastructure will require substantially higher deployment of green energy capacity across the country. He also pointed to the government’s ongoing efforts to strengthen renewable infrastructure, adding that AI adoption could accelerate renewable capacity addition beyond existing targets.
No Exposure to 126% US Solar Tariff
Addressing concerns around the recently announced 126 percent US tariff on certain Indian solar products, Chaudhary clarified that Vikram Solar has “absolutely no” exposure to the affected category.He explained that the duty applies specifically to solar cells and not to fully assembled solar panels. This distinction, he said, creates a strategic pathway for Indian manufacturers to continue serving the US market without direct impact.
Referring to the company’s current order book, he emphasized that US exposure under the tariff category is “absolutely nil.”
Export Contribution and Strategic Pivot
Exports contribute approximately 16 percent to Vikram Solar’s overall revenue. However, the company has been deliberately increasing its focus on the domestic market over the past year in response to evolving global trade dynamics.While the US remains a significant global solar market, Vikram Solar has already begun shifting its attention toward Europe and the Asia Pacific region. Management noted that changes in the global cost structure, particularly reduced export benefits for Chinese manufacturers, are improving the competitive position of Indian players.
From an industry perspective, the company believes the overall impact of the US duty may remain limited, as Indian shipments represent a small portion of total US solar imports. Large Indian manufacturers have also been adjusting sourcing strategies in recent years to adapt to trade developments.
Stock Performance and Market Position
Vikram Solar currently has a market capitalization of ₹6,320.85 crore. As of 1:27 pm on the NSE, the stock is trading at ₹174.22 and has declined 51 percent over the last six months.For the complete management interaction, viewers can watch the full interview video and track further updates through the live market blog.
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