Vikran Engineering Wins 45.75 MW Solar Project in Madhya Pradesh, Shares Rise 9.5%
Vikran Engineering's shares rose by 9.5% to Rs 110.35 following the acceptance of Letters of Award for a 45.75 MW solar project in Madhya Pradesh, part of the PM KUSUM-C scheme. The projects, aimed at supplying power to MPPMCL, will be developed in Vidisha district with a 25-year tenure for power purchase agreements at tariffs of Rs 2.75 to Rs 2.80 per kilowatt-hour. The stock has increased by 17.93% in the past week, reflecting strong market interest.
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Vikran Engineering's shares increased by 9.5% to Rs 110.35 after accepting Letters of Award (LOAs) for solar projects totaling 45.75 MW AC capacity in Madhya Pradesh. The projects, granted under the PM KUSUM-C scheme by M.P.
Urja Vikas Nigam Limited, will be implemented in Vidisha district to supply power to Madhya Pradesh Power Management Company Limited (MPPMCL). The solar power plants will be developed under the Surya Mitra Krishi Feeders Scheme, supported by the Ministry of New and Renewable Energy.
The power purchase agreements for these projects have a tenure of 25 years, with tariffs between Rs 2.75 and Rs 2.80 per kilowatt-hour. Vikran Engineering's stock has surged 17.93% in the past week and 14.61% over the last two weeks, indicating strong market interest.
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