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Vikran Engineering secures solar power projects worth Rs 3,517.98

27-Jun-26 13:27 Hrs IST

The scope of work includes design, engineering, procurement, supply of solar PV modules and inverters, erection, testing and commissioning of the project.

The order follows a restructuring of the project execution framework. The company had earlier received an EPC work order worth Rs 2,035.26 crore from Onix Renewable in December 2025 for execution of a 600 MW project.

Of this, work worth approximately Rs 388.67 crore has been tentatively executed, while the balance contract value of around Rs 1,893.26 crore has been mutually cancelled.

Following Vikran Engineering's acquisition of 100% equity in NOPL Solar Projects, the EPC execution has been realigned, with the project now being executed directly under a work order issued by NOPL.

The company clarified that the cancellation of the earlier Onix Renewable contract was solely due to the revised contractual structure arising from the acquisition and was not related to any dispute, default or performance issue.

It further stated that the revised arrangement is not expected to have any material adverse impact on its operations, financial position or business prospects.

Vikran Engineering provides end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis and has a presence across multiple sectors, including power, water, and railway infrastructure.

The scrip fell 1.19% to end at Rs 70.29 on the BSE on Thursday.

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