Vikran Engineering Cancels ₹354.21 Crore Solar EPC Order for Maharashtra Project

Vikran Engineering Limited has announced the cancellation of its approximately ₹354.21 crore Engineering, Procurement and Construction (EPC) contract for a 100 MW AC solar power project in Maharashtra, which was awarded by Ellume Energy MH Solar One Private Limited (SPV).

The company stated that the decision follows a detailed internal evaluation and was taken due to prolonged delays in achieving critical project readiness milestones at the client’s end. According to the company, the client was unable to provide the required Power Purchase Agreement (PPA), work commencement approvals, design clearances, scope finalisation, and mobilisation permissions within the expected timelines, resulting in uncertainty over the project’s execution.

Vikran Engineering noted that the cancellation was made through mutual understanding between both parties and that continuing with the project had become commercially unviable under the prevailing circumstances. The company further clarified that the termination is not expected to have any material adverse impact on its overall business operations, financial performance, or long-term growth outlook.

The original Letter of Award (LoA) for the turnkey EPC contract was accepted on 24 October 2025 for the development of the 100 MW AC solar power project in Maharashtra. Vikran Engineering reaffirmed that it remains focused on pursuing strategically aligned, execution-ready projects that create long-term value for its shareholders.