Vikran Engineering secures 45.75 MW solar projects in Madhya Pradesh under PM-KUSUM programme

Vikran Engineering has secured significant solar power project contracts in Madhya Pradesh, marking another milestone in the company's renewable energy portfolio. The company announced on December 26 that it has accepted letters of award from MP Urja Vikas Nigam Ltd for developing grid-connected solar photovoltaic power projects with a combined capacity of 45.75 MW (AC).

Project Details and Implementation

The awarded projects fall under the Surya Mitra Krishi Feeders Scheme, which forms part of the broader PM-KUSUM programme aimed at promoting solar energy adoption in agricultural sectors. The solar photovoltaic power plants will be developed specifically in Vidisha district of Madhya Pradesh, where Vikran Engineering will function as the renewable power generator.

Parameter:	Details
Total Capacity:	45.75 MW (AC)
Location:	Vidisha district, Madhya Pradesh
Contract Duration:	25 years
Tariff Range:	₹2.75-2.80 per unit
Power Purchaser:	Madhya Pradesh Power Management Company Ltd
Award Date:	December 26

Commercial and Operational Framework

The power generated from these solar installations will be sold to Madhya Pradesh Power Management Company Ltd (MPPMCL) under long-term agreements. The contracts, awarded by a domestic entity, span 25 years and feature competitive tariffs ranging from ₹2.75 to ₹2.80 per unit. Vikran Engineering will be responsible for both the implementation and ongoing operation of these solar power facilities.

Strategic Significance

These projects represent a crucial component of efforts to promote feeder-level solarisation specifically for agricultural power supply in Madhya Pradesh. The initiative aligns with broader state and national objectives to reduce dependence on conventional energy sources while supporting the agricultural sector through reliable renewable power generation.

Market Performance

Despite the positive project announcement, shares of Vikran Engineering Ltd closed lower on December 26, declining by ₹100.75 on the NSE. The market reaction reflects the complex dynamics of stock performance relative to business developments in the renewable energy sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.52%	+17.15%	-3.86%	+5.27%	+5.27%	+5.27%

Vikran Engineering Limited has accepted Letter of Awards (LOAs) from M.P. Urja Vikas Nigam Limited for implementing grid-connected solar photovoltaic power plants with a total capacity of 45.75 MW AC. The announcement was made on December 26, 2025, under Regulation 30 of SEBI listing requirements through an official press release.

Project Details

The solar power projects will be implemented in Vidisha District, Madhya Pradesh, under the Surya Mitra Krishi Feeders Scheme with feeder solarization component of PM KUSUM-C scheme. The generated power will be sold to Madhya Pradesh Power Management Company Limited (MPPMCL).

Parameter:	Details
Total Capacity:	45.75 MW AC
Location:	Vidisha District, Madhya Pradesh
Awarding Entity:	M.P. Urja Vikas Nigam Limited
Power Buyer:	MPPMCL
Contract Duration:	25 Years
Tariff Range:	₹2.75 - ₹2.80 per kWh

Contract Terms and Scope

The company will function as a Renewable Power Generator (RPG) for the grid-connected solar PV based power plants. The project falls under the government's PM KUSUM-C scheme, which aims to promote solar energy adoption in agricultural sectors through feeder solarization. The awards have been granted by a domestic government entity, ensuring alignment with national renewable energy objectives.

Regulatory Compliance

The announcement was made in compliance with SEBI regulations, confirming that the contract does not involve any related party transactions and is executed at arm's length. The promoter group has no interest in the awarding entity, ensuring transparency in the business arrangement. The press release was signed by Kajal Rakholiya, Company Secretary and Compliance Officer, from the company's Thane office.

Strategic Significance

This 25-year power purchase agreement provides Vikran Engineering Limited with long-term revenue visibility in the renewable energy sector. The project aligns with India's solar energy expansion goals and strengthens the company's growing presence in decentralized and utility-scale solar projects, particularly those aligned with national schemes aimed at agricultural feeder solarization and renewable energy integration.