Vikran Engineering Limited Acquires 49% Stake in NOPL Solar Projects, Boosting Renewable Energy Presence

Vikran Engineering Limited Acquires 49% Stake in NOPL Solar Projects, Boosting Renewable Energy Presence​

Vikran Engineering Limited (VEL), an emerging multisector Engineering, Procurement, and Construction (EPC) company, has announced a strategic investment to acquire a 49% equity stake in NOPL Solar Projects Private Limited. The acquisition, executed via a Share Purchase Agreement, involves an investment of INR 4.9 crore, marking a focused expansion into India's growing renewable energy sector.

NOPL Solar Projects Private Limited specializes in the development, operation, and maintenance of solar power projects. The company is associated with a 969 MW (AC) grid-connected solar power project, which falls under Component C of the PM-KUSUM Scheme in Maharashtra.

This strategic move allows Vikran Engineering Limited to diversify beyond its core engineering operations and build a substantial presence in high-growth, future-focused sectors. The acquisition positions the company to participate more actively in the country's solar infrastructure buildout as India accelerates its transition to clean energy.

Commenting on the development, Mr. Rakesh Markhedkar, CMD of Vikran Engineering Limited, stated that the acquisition reflects the company's intent to deepen its involvement in sectors defining India's next phase of infrastructure growth.

"Renewable energy continues to emerge as one of the most compelling longterm opportunities within India's infrastructure landscape," Mr. Markhedkar said. "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 longterm value for all stakeholders."

The transaction also follows Vikran Engineering's momentum in the renewable energy space, including the execution of solar power projects during FY 2025-26. By partnering with NOPL Solar Projects, the company aims to enhance its participation across the entire renewable energy value chain and strengthen its capacity for delivering next-generation infrastructure solutions.

Company Profiles​

About Vikran Engineering Limited
Vikran Engineering Limited is a diversified EPC player providing expertise across multiple sectors, including Power Transmission & Distribution, Water Infrastructure, and Railway Electrification. The company also possesses emerging capabilities in Solar EPC and Smart Metering. VEL offers end-to-end turnkey solutions, spanning conceptualization, design, supply, installation, testing, and commissioning, enabling it to capture the full value chain of project execution.

The company boasts a strong track record, having successfully completed 45 projects across 14 states. Key clients include NTPC, Power Grid Corporation of India, state utilities, and public health departments. Vikran’s asset-light model, combined with in-house design and engineering expertise and a robust supply chain of over 3,500 vendors, ensures efficient mobilization and timely project delivery.

About NOPL Solar Projects Private Limited
NOPL Solar Projects Private Limited is focused on the development, operation, and maintenance of solar power projects.

VIKRAN Stock Price Movement​

Shares of Vikran Engineering Limited are edging higher to ₹73.7 as of 1:09 PM today, gaining 0.34% in live trading. The stock continues its momentum, trading on a robust volume of 1.30 million shares, signaling strong investor interest in the construction sector.