On Friday, December 26, Vikran Engineering Ltd announced that it has accepted awards from MP Urja Vikas Nigam Ltd for the establishment of grid-connected solar power projects totaling 45.75 MW (AC) capacity in Madhya Pradesh.
These awards, accepted on December 26, pertain to the installation of solar photovoltaic power plants under the Surya Mitra Krishi Feeders Scheme, which includes feeder solarisation as part of the PM-KUSUM initiative.
The energy generated from these projects will be sold to Madhya Pradesh Power Management Company Ltd (MPPMCL), as stated by the company in its exchange filing.
The projects will be situated in Vidisha district of Madhya Pradesh, with Vikran Engineering serving as the renewable power generator accountable for the development and operation of the solar plants.
These contracts have been granted by a domestic entity and are set for a duration of 25 years. Tariffs for these projects will be between ₹2.75-2.80 per unit, according to the company.
These initiatives are part of efforts aimed at promoting solarisation at the feeder level for agricultural power supply, thereby decreasing reliance on traditional energy sources in the state, the company remarked.
On Friday, December 26, shares of Vikran Engineering Ltd declined by ₹100.75 on the NSE.
