VIKRAM SOLAR APPOINTS RENEWABLE ENERGY VETERAN MR SAIBABA VUTUKURI AS NEW CEO

February 5, 2020

New Delhi, India

Mr. Gyanesh Chaudhary to remain MD, focus on diversification, new ventures, key corporate initiatives.

Kolkata, 5th February, 2020: Vikram Solar, one of India’s leading module manufacturers and a prominent EPC & rooftop solar solutions provider, today announced the appointment of renewable energy sector veteran, Mr Saibaba Vutukuri as the new Chief Executive Officer (CEO) of the company. This announcement comes in at an important juncture, marking the next phase of growth at Vikram Solar.

Mr Gyanesh Chaudhary will retain his position as the Managing Director of the company. With Mr Vutukuri’s appointment, Mr Chaudhary will take on a more strategic role involving portfolio diversification, key strategic initiatives and future ventures.

Mr Vutukuri, a post-graduate in International Business (MBA) from Copenhagen Business School, has over 3 decades of industry experience, with more than two decades spent in the wind and solar sector. Besides serving as the President and CEO- Diversification of the BSE listed Inox Wind Ltd in his last assignment, Mr Vutukuri has previously held leadership positions in several organizations including Business Head/Chief Executive, India Business (South and East) and South East Asia markets at Suzlon Energy Ltd among other leadership roles.

Speaking about Mr Vutukuri’s appointment, Mr Gyanesh Chaudhary, Managing Director, Vikram Solar said, “Sai’s knowledge and experience will be an extremely valuable asset to Vikram Solar. His wide experience in solar manufacturing, corporate affairs and international markets will help us to further strengthen our leadership position in the renewable sector. I will be supporting Sai in the transition process during the first half of the year to ensure a seamless experience for all our internal and external stakeholders.”

The newly appointed Chief Executive Officer of Vikram Solar, Mr Saibaba Vutukuri shared “I’m delighted to be joining Vikram Solar as the CEO at an exciting time for the business. It is a remarkable company with a long history of outperformance, creating innovative products. I’m looking forward to working with an exceptional group of leaders over the coming years to continue to transform Vikram Solar.”

He further added, “It is important to state that we, at Vikram Solar, are going to stay true to our DNA and will continue to make the best products in the industry that delight our customers and make our employees incredibly proud of what they do.”

Under the leadership of Mr Gyanesh Chaudhary, Vikram Solar has become one of the largest solar module manufacturers in India in the last 14 years. Continuing as the Managing Director of Vikram Solar, his focus will be on future expansion, new business opportunities and growth plans including investments and major capex decisions among key business areas.

About Vikram Solar Limited:

Vikram Solar Limited (formerly known as Vikram Solar Pvt. Ltd.) is a leading solar energy solutions provider, specializing in efficient PV module manufacturing and comprehensive EPC solutions. With an international presence in 6 continents, the company is an active contributor in shaping the solar revolution across continents. Carrying forward the extensive manufacturing experience of the Vikram Group, Vikram Solar, since 2006, is building on a 4-decade-old success story.

Vikram Solar’s annual PV module production capacity stands at 1.1 GW. The company’s products comply with the international standards of quality, reliability, and performance. As a fully forward- integrated Solar EPC solutions provider, Vikram Solar deploys world-class technology to design, install and commission solar projects worldwide.