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Vikran Engineering has secured a major ₹2,035 crore work order from Onix Renewables to develop a 600 MW AC solar power project. The stock soared 12% on the back of this news.
A 600 MW AC solar power plant can typically power around 1-1.2 million Indian households during peak generation.
For context:Vikran Engineering builds large infrastructure projects. It works on power lines, water supply systems, and railway electrification, handling everything from planning and design to construction and final setup.
What’s happening: under the contract, the company will handle everything end-to-end, from designing and building the solar plants and making them fully operational across multiple locations in Maharashtra. The deal also includes supplying key equipment like solar panels and inverters.
Notably, the ₹2,035 crore order is almost as big as Vikran Engineering’s entire market value of about ₹2,500 crore, highlighting just how significant this win is for the company.
Why this matters: Maharashtra is rapidly emerging as one of India’s leading solar power states, supported by strong policies and schemes such as the PM Surya Ghar: Muft Bijli Yojana and the state’s SMART Solar Scheme.
