Vikran Engineering acquires 49% stake in NOPL Solar Projects

Vikran Engineering has executed a share purchase agreement (SPA) for acquisition of 49% equity stake in NOPL Solar Projects for a consideration of Rs 4.90 crore.

NOPL Solar Projects is engaged primarily for development, operation and maintenance of solar power projects 969 MW (AC) grid-connected solar power project under Component C of the PM-KUSUM Scheme in the renewable energy sector in state of Maharashtra.

The acquisition is in line with the Company's strategy to expand its presence in the renewable energy sector. It will enable business diversification and support long-term growth through participation in solar energy projects.