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Vikran Engineering Subsidiary Secures Rs 2,941 Crore IREDA Loan for Maharashtra Solar Project
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CNBC TV18•12-10-2026, 20:12
Vikran Engineering Subsidiary Secures Rs 2,941 Crore IREDA Loan for Maharashtra Solar Project
- •Vikran Engineering Ltd announced that its subsidiary, NOPL Solar Projects Pvt Ltd, signed a Rs 2,941.19 crore loan agreement with IREDA.
- •The funds will partly finance a 969 MWac/1,163 MWp solar photovoltaic project across 152 locations in Maharashtra under the MSKVY 2.0 scheme.
- •The total estimated cost of the solar project is Rs 4,201.70 crore, with remaining funds coming from promoter contributions and other sources.
- •The agreement finalises financing for a Rs 3,517.98 crore EPC contract awarded by NOPL to Vikran Engineering.
- •Vikran Engineering recently also secured a Rs 153.76 crore order from POWERGRID for substation extension and civil works.
Key Questions Answered
Vikran Engineering's wholly owned subsidiary, NOPL Solar Projects Pvt Ltd, signed a ₹2,941.19 crore loan agreement with the Indian Renewable Energy Development Agency (IREDA) to partly finance its solar power project in Maharashtra.
The project involves developing a 969 MWac/1,163 MWp solar photovoltaic power project across 152 locations in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY) scheme.
Vikran Engineering secured an order worth approximately ₹153.76 crore from Power Grid Corporation of India Ltd (POWERGRID) on September 23 for a 400 kV air-insulated switchgear extension substation package.
