Vikran Engineering Cancels ₹354 Cr Solar Project Order

Vikran Engineering Ltd has informed the stock exchanges about the cancellation of a previously accepted Letter of Award (LOA) from Ellume Energy MH Solar One Private Limited. The order, valued at approximately ₹354.21 crore, was for a 100 MW AC Solar Power Project in Maharashtra. The cancellation is attributed to prolonged delays by the client in meeting project readiness milestones, including the inability to provide a Power Purchase Agreement (PPA) and other necessary approvals within expected timelines. Vikran Engineering stated that the project's commencement remained uncertain, rendering its execution commercially unviable. The company emphasized that the cancellation is by mutual understanding and is not expected to have a material adverse impact on its overall business operations or financial performance. Vikran Engineering remains focused on strategically aligned and execution-ready opportunities.