Vikran Engineering acquires 49% stake in NOPL Solar Projects

Vikran Engineering Limited has signed a Share Purchase Agreement to acquire a 49% equity stake in NOPL Solar Projects Private Limited for Rs 4.9 crore, expanding its footprint in the renewable energy segment.

NOPL Solar Projects is involved in the development, operation, and maintenance of solar power assets and is linked to a 969 MW (AC) grid-connected project under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) Scheme in Maharashtra.

The company said the investment aligns with its strategy to diversify beyond core Engineering, Procurement, and Construction (EPC) activities into growth segments such as solar infrastructure. It added that the transaction will support greater participation in India’s clean energy expansion.

Commenting on the transaction, Mr. Rakesh Markhedkar, Chairman and Managing Director of Vikran Engineering Limited, said, “This acquisition reflects our intent to deepen Vikran Engineering’s presence in sectors that will define India’s next phase of infrastructure growth. Through this partnership, we aim to capitalize on the expanding solar ecosystem, enhance our project execution capabilities, and create sustainable long-term value for all stakeholders.”

Vikran Engineering noted that the deal builds on its solar project execution during FY 2025-26 and is expected to enhance its presence across the renewable energy value chain.

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