Vikran Engineering has secured significant solar power project contracts in Madhya Pradesh while indicating strong prospects for additional business opportunities. The company announced 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), and sees the possibility of securing extra ₹2000 crore in orders.

Current Project Portfolio

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 in Vidisha district of Madhya Pradesh, where Vikran Engineering will function as the renewable power generator.

Commercial 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 span 25 years and feature tariffs ranging from ₹2.75 to ₹2.80 per unit. Beyond the current projects, the company has indicated potential additional orders worth ₹2000 crore.

Strategic Market Position

These developments represent Vikran Engineering's expanding presence in India's renewable energy landscape. The projects are components of efforts to promote feeder-level solarisation 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 renewable power generation.

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).

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.