Kolkata, India-headquartered Vikram Solar, Bronxville, NY-based private equity firm Phalanx Impact Partners and New York City-headquartered Das & Co., an investment and development company with solar holdings in both the U.S. and India, formed a majority U.S.-owned and -operated joint venture – VSK Energy LLC.
The venture is spear headed by:
Gyanesh Chaudhary, Founder, Chairman, and Managing Director of Vikram Solar
Alex Hung and Doug Bennett, co-founders and partners of Phalanx Impact Partners
The partnership plans to invest up to $1.5 billion in the U.S. solar energy supply chain, beginning with a factory in Colorado next year. The company will leverage India’s extensive solar manufacturing know-how in the U.S. push to build a clean energy manufacturing sector.
The announcement is the latest by an overseas manufacturer seeking to capitalize on incentives in President Joe Biden’s landmark climate change law, the Inflation Reduction Act, to boost renewable energy production, reports Reuters.
The company will begin producing modules in Brighton, Colorado, next year and plans to open a second facility in an undisclosed southern state in 2025 that will produce cells, wafers and ingots, the building blocks for solar panels.
Biden aims to decarbonize the U.S. power grid by 2035, an ambitious goal aimed at both fighting climate change and creating jobs.
Like the United States, India has subsidized domestic solar production and taxed imports to reduce its reliance on Chinese imports and is on track to be self-sufficient by 2026, according to the Institute for Energy Economics and Financial Analysis.
Last updated: December 26th, 2025
