Vikran Engineering share price surged more than 13% on Tuesday, 13 October, after the company announced that its wholly owned subsidiary, NOPL Solar Projects Pvt Ltd, had signed a ₹2,941.19 crore loan agreement with the Indian Renewable Energy Development Agency (IREDA) to partly finance a large-scale solar power project in Maharashtra.
According to a regulatory filing, the loan agreement was dated 9 October 2026, and disclosed to the stock exchanges on 12 October.
The project involves developing a 969 MWac/1,163 MWp solar photovoltaic power project across 152 locations in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY) scheme. The total estimated project cost stands at ₹4,201.70 crore.
The remaining funding is expected to come from promoter contributions and other sources, in accordance with the project's financing plan.
The loan agreement marks a key financing milestone for the project, for which NOPL Solar Projects had awarded Vikran Engineering an engineering, procurement and construction (EPC) contract worth ₹3,517.98 crore.