Vikran Engineering acquires 49% stake in NOPL Solar for ₹4.9 Cr
Vikran Engineering Limited (VEL) has executed a Share Purchase Agreement to acquire a 49% equity stake in NOPL Solar Projects Private Limited for INR 4.9 crore. This strategic investment marks VEL's expansion into India's renewable energy sector, diversifying its operations beyond core engineering. NOPL Solar Projects is involved in the development, operation, and maintenance of solar power projects, including a 969 MW (AC) grid-connected solar project under the PM-KUSUM Scheme in Maharashtra. The acquisition aligns with VEL's long-term vision to build a meaningful presence in high-growth, future-focused sectors and participate actively in India's clean energy transition. CMD Mr. Rakesh Markhedkar stated this strengthens VEL's foothold in the solar segment and enhances project execution capabilities.
Key Highlights
- VEL acquired 49% equity in NOPL Solar Projects for ₹4.9 crore.
- NOPL Solar is engaged in 969 MW solar project development in Maharashtra.
- Strategic move to expand VEL's presence in India's renewable energy sector.
- Diversifies VEL's operations beyond core engineering into high-growth sectors.
- Aims to enhance project execution and create sustainable long-term value.