Vikran Engineering Limited (VEL), which is one of the fast-growing multi-sector EPC service providers in India, has announced that it entered into a Share Purchase Agreement under which it will take up a 49% equity share in NOPL Solar Projects Pvt. Ltd., an Indian-based company, at a total cost of INR 4.9 crore, marking a strategic expansion of its presence in India’s renewable energy sector.
NOPL Solar Projects Private Limited is involved in developing, operating, and maintaining solar power projects and is related to a 969 MW (AC) solar power project grid connected scheme of the PM-KUSUM Scheme, under Component C in Maharashtra state.
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, 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.
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