27-Jun-2026      16:39

Vikran Engineering announces cancellation of order worth Rs 354.21 cr

Vikran Engineering announced the cancellation of order worth Rs 354.21 crore from Ellume Energy MH Solar One (SPV) due to prolonged delays in achieving the necessary project readiness milestones at the client's end. The client was unable to provide the required Power Purchase Agreement (PPA), work commencement approvals, design clearances, scope finalization, and mobilization permissions within the expected timelines. Consequently, the commencement of the project remained uncertain, making execution of the work order commercially unviable.

The order pertained to turnkey Engineering, Procurement, and Construction (EPC) Contract for the 100 MW AC Solar Power Project in Maharashtra.

News source: Capital Market - Live News