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Vikran Engineering Secures INR 3,517.98 Cr EPC Contract for 969 MW Solar Projects in Maharashtra

Vikran Engineering has secured an INR 3,517.98 crore EPC contract from NOPL Solar Projects for 969 MW AC solar projects in Maharashtra, replacing an earlier INR 2,035.26 crore order awarded by Onix Renewable for the same project. The restructuring follows Vikran Engineering's acquisition of a 100 percent equity stake in NOPL Solar Projects.

June 29, 2026. By Mrinmoy Dey

Multi-sector EPC company Vikran Engineering has announced that the company has secured a turnkey engineering, procurement and construction (EPC) contract worth INR 3,517.98 crore from its wholly-owned subsidiary NOPL Solar Projects (NOPL) for the development of 969 MW AC solar power projects across multiple locations in Maharashtra.

The work order covers designing, engineering, procurement, supply, erection, testing and commissioning of the project, including the supply of solar PV modules and inverters, the company stated in a regulatory filing.

The new contract replaces an earlier EPC work order worth INR 2,035.26 crore that Vikran Engineering had received from Onix Renewable in December 2025 for a 600 MW solar project. According to the company, EPC work worth around INR 388.67 crore had been tentatively executed under the previous arrangement, while the remaining order value of around INR 1,893.26 crore has been mutually cancelled.

The restructuring follows Vikran Engineering's acquisition of a 100 percent equity stake in NOPL Solar Projects, resulting in the project execution structure being realigned. Under the revised arrangement, the EPC contract has been awarded directly by NOPL, the project developer, replacing the earlier contract issued through Onix Renewable.

The company said that the cancellation of the previous work order is solely due to the restructuring of contractual arrangements following the acquisition and is not related to any dispute, default or performance issue.

Vikran Engineering added that the revised contractual structure is not expected to have any material adverse impact on its operations, financial position or business prospects, as it will continue executing the same project under the new EPC agreement with NOPL.

Tags:

Solar PV

Vikran Engineering

NOPL Solar Projects

Solar EPC project in Maharashtra

Onix Renewable

Vikran Engineering solar EPC wins