Vikran Engineering’s subsidiary signs a ₹2,941 crore IREDA loan for a 969 MWac solar project in Maharashtra
- Agreement
- Renewable Energy
Vikran Engineering Limited has told the exchanges that NOPL Solar Projects Private Limited, its wholly owned subsidiary, has signed a facility agreement with the Indian Renewable Energy Development Agency Limited (IREDA) for a rupee term loan of up to ₹2,941.19 crore. The disclosure was made on 12 Oct 2026 under Regulation 30 of the SEBI listing rules.
The loan will part-finance a solar PV power project of 969 MWac (1,163 MWp), under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 scheme, spread across 152 locations in Maharashtra. The estimated project cost is ₹4,201.70 crore. The company says that with the facility agreement signed, the financing arrangements for the EPC contract worth ₹3,517.98 crore that NOPL awarded to Vikran Engineering for the project are now in place.
Inference
The loan covers about 70% of the estimated project cost (₹2,941 crore of ₹4,202 crore), a ratio calculated from the filing’s figures. The rest would come from other sources, which the part of the filing reviewed here does not describe.
For Vikran, the signed loan matters because the project company pays Vikran under the ₹3,517.98 crore EPC contract. The filing says the financing for that contract is now finalised.
Reference: Original filing (PDF)
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