Venture capitalist Viney Equity Market on Monday announced that it co-led a Rs 715 crore investment in solar panel manufacturers and power companies Vikram Solar and contributed Rs 12 crore to the funding round, alongside participation from multiple investors.
The funding will provide Vikram Solar with the resources to strengthen its capital base, improve its ability to borrow money for working capital and finance the expansion of its solar PV module manufacturing facility.
“We are impressed by their commitment to innovation and their track record of success. This investment aligns perfectly with our philosophy of supporting companies that are driving positive change in the world,” Anant Aggarwal, Founder of Viney Equity Market LLP, said in a statement.
According to the company, these initiatives will allow Vikram Solar to meet other general corporate purposes and solidify its position as a leader in India’s clean energy sector.
Vikram Solar is a provider of comprehensive solar energy solutions, specialising in efficient photovoltaic module manufacturing and engineering, procurement, and construction (EPC) services.
With a global footprint across 32 countries, Vikram Solar is committed to accelerating the adoption of solar energy to create a sustainable future for all.
