Vikran Engineering lands ₹3,517.98 Cr mega-solar project!

Vikran Engineering Limited has accepted a work order dated June 26, 2026, from NOPL Solar Projects Private Limited for the development of a 969 MW AC solar power project across multiple locations in Maharashtra on a turnkey Engineering, Procurement, and Construction (EPC) basis. The total contract value stands at ₹3,517.98 crore (inclusive of GST). The scope includes design, engineering, procurement, supply, erection, testing, and commissioning, including solar PV modules and inverters.

Consequent to the company’s acquisition of a 100% equity stake in NOPL, the project execution structure has been realigned. Accordingly, the earlier arrangement with Onix Renewable Limited (dated December 23, 2025, for a 600 MW project valued at ₹2,035.26 crore) has been revised. Work worth ₹388.67 crore has been executed under the Onix contract, while the remaining balance of ₹1,893.26 crore has been mutually cancelled.

This restructuring is purely administrative in nature, arising directly from the NOPL acquisition, and does not relate to any disputes or performance defaults. This transition to a direct contract with NOPL is not expected to have any material adverse impact on the company’s operations, financials, or business outlook.

News by Rahul Yelligetti.