Mumbai, July 2 -- Vikran Engineering has accepted a turnkey engineering, procurement and construction work order worth Rs 35,179.8 million (mn) from NOPL Solar Projects to develop a 969 megawatt (MW) AC solar power project across multiple locations in Maharashtra. The company will carry out design, engineering, procurement and supply of solar photovoltaic modules and inverters together with erection, testing and commissioning of the project. The contract follows the realignment of project execution after Vikran Engineering acquired full ownership of NOPL Solar Projects.
The scope of the turnkey EPC engagement encompasses end to end services from conceptualisation to commissioning, including procurement of solar PV modules and inverters and civil and electrical works. The order supersedes an earlier work order that had been issued in December 2025 to Onix Renewable for a 600 MW project valued at Rs 20,352.6 mn. The company indicated that approximately Rs 3,886.7 mn of that amount had been tentatively executed before the balance was mutually cancelled.
Following the corporate restructuring, Vikran Engineering completed the acquisition of 100 per cent equity in NOPL Solar Projects and the EPC execution has been realigned to be issued directly by NOPL. The balance contract value of around Rs 18,932.6 mn was mutually cancelled as a result of the revised contractual structure and not due to any dispute, default or performance issue, the company clarified. The firm 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 turnkey services across sectors including power, water and railway infrastructure and supplies end to end execution from conceptualisation, design, supply, installation, testing and commissioning. The company said the revised routing of contracts is intended to streamline execution and maintain project continuity. The scrip fell one point one nine per cent to end at Rs 70.29 on the BSE on Thursday.
Published by HT Digital Content Services with permission from Construction World.