Key Project Highlights
- Total capacity: 5 Megawatts (MW)
- Geographic location: Ambijalgaon, Maharashtra
- Expected annual generation: 10,000 Megawatt-hours (MWh)
- Estimated annual CO2 emission reduction: 8,200 tonnes
- Active solar construction pipeline: 145 MW
- Total capacity of solar contract signed in December 2025: 600 MW
Project Overview & Operational Context
Vikran Engineering has commissioned a 5 MW solar power project located in Ambijalgaon, Maharashtra. This installation is the company’s second operational facility under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM) scheme. Operating within the Mukhyamantri Saur Krushi Vahini Yojana – 2.0 framework, the project utilizes Component C guidelines, which allow for solar PV capacity up to two times the agricultural pump capacity in kW. The facility is designed to provide reliable daytime electricity for agricultural irrigation, facilitating the replacement of existing diesel-powered systems as outlined in the national scheme’s feeder-level solarization objectives.
The Ambijalgaon project forms part of an active 145 MW solar construction pipeline. This operational expansion follows the December 2025 acquisition of a solar Engineering, Procurement, and Construction (EPC) contract for 600 MW, valued at ₹2,035.26 crore. Strategic integration includes the development of renewable energy assets through NOPL Solar Projects Private Limited, which is currently developing a 969 MW (AC) grid-connected solar project under the PM-KUSUM Component C framework in Maharashtra.
Official Corporate Disclosures and Pipeline Status
Corporate disclosures indicate a transition from traditional EPC infrastructure services toward the ownership and development of renewable energy assets. On May 21, 2026, the company disclosed the acquisition of the remaining 51% equity stake in NOPL Solar Projects Private Limited for ₹4.9 crore. This transaction, executed on May 20, 2026, through a Share Purchase Agreement for 5,100 shares, rendered the entity a wholly-owned subsidiary. This subsidiary is tasked with the development and maintenance of the 969 MW (AC) solar project under the PM-KUSUM framework.
Financial data from FY25 reporting and subsequent 2026 updates identify several operational watch-points. The company maintains a credit rating of IND A-/Negative. As of March 31, 2025, total trade receivables stood at ₹63,432 lakhs. Ageing analysis in Note 14.2 specifies that undisputed trade receivables considered good for six months to one year totaled ₹2,228 lakhs, while those outstanding for more than three years reached ₹197 lakhs. Furthermore, Note 14.1 identifies ₹2,929 lakhs in disputed dues related to a recovery claim in the commercial court of Jaipur. As of March 31, 2026, outstanding long-term borrowings were ₹45.84 crore, confirming the company does not meet the SEBI Large Corporate criteria. Legal matters include a two-year ban order from the Railway Board for alleged integrity breaches, which has been stayed by the Delhi High Court pending further resolution.
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