Vikran Engineering Subsidiary Secures ₹2,941 Cr Loan for Solar Project

Vikran Engineering Limited's wholly-owned subsidiary, NOPL Solar Projects Private Limited, has entered into a facility agreement with Indian Renewable Energy Development Agency Limited (IREDA) for a rupee term loan of up to ₹2,941.19 crore. This loan will part-finance the development of a 969 MWac / 1,163 MWp solar photovoltaic power project across 152 locations in Maharashtra, with an estimated project cost of ₹4,201.70 crore. The financing arrangements for the EPC contract awarded to Vikran Engineering Limited by NOPL for Rs. 3517.98 Crores are now finalized, marking a significant step towards project implementation. Vikran Engineering Limited will provide a corporate guarantee for the loan.