Vikran Engineering wins ₹2,035 Cr solar deal

• Vikran wins ₹2,035.26 Cr Onix Renewables deal for 600 MW AC solar project.
• EPC contract includes design, supply, and commissioning in Maharashtra, India.
• Project must be completed within 12 months; Vikran shares fell 3.42%.

Vikran Engineering Limited on Tuesday announced that it has received a major work order worth ₹2,035.26 crore from Onix Renewables Limited for the development

of a 600 MW AC solar power project.

The contract involves turnkey EPC works, including design, engineering, procurement, supply, erection, testing and commissioning of the solar plants across multiple locations in Maharashtra. The order also includes the supply of solar PV modules and inverters.

According to the company’s regulatory filing, the project is to be executed within a period of 12 months. The order value stands at ₹2,035.26 crore excluding GST, and approximately ₹2,216.4 crore including applicable taxes.

Vikran Engineering clarified that the contract does not fall under related-party transactions, and neither the promoter nor promoter group has any interest in the awarding entity.

Ahead of the announcement, shares of Vikran Engineering closed at ₹86.65 on the NSE, down 3.42%.