Mumbai, April 28: Vikran Engineering Limited (VEL), one of India’s emerging multi sector EPC (Engineering, Procurement, and Construction) companies, has announced the execution of a Share Purchase Agreement to acquire a 49% equity stake in NOPL Solar Projects Private Limited for INR 4.9 crore, marking a strategic expansion of its presence in India’s renewable energy sector.
NOPL Solar Projects Private Limited is engaged in the development, operation, and maintenance of solar power projects and is associated with a 969 MW (AC) grid-connected solar power project under Component C of the PM-KUSUM Scheme in Maharashtra.
The strategic investment aligns with Vikran Engineering’s long-term vision of diversifying beyond its core engineering operations and building a meaningful presence in high-growth, future-focused sectors. As India accelerates its clean energy transition and renewable capacity addition, the acquisition positions Vikran Engineering to participate more actively in the country’s solar infrastructure buildout.
Commenting on the development, Mr. Rakesh Markhedkar, CMD, 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. Renewable energy continues to emerge as one of the most compelling long-term opportunities within India’s infrastructure landscape, and this investment enables us to strengthen our foothold in the solar segment. 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.”
The transaction also builds on Vikran Engineering’s growing momentum in the renewable energy segment, following the company’s execution of solar power projects during FY 2025– 26. By partnering with NOPL Solar Projects, Vikran Engineering aims to enhance its participation across the renewable energy value chain and further strengthen its capabilities in delivering next-generation infrastructure solutions.
