Ceigall India wins ₹712 crore solar power project in Maharashtra

Ceigall India Ltd announced that it has received a Letter of Award (LOA) from the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for developing solar photovoltaic power projects with a total capacity of 190 MW (AC) under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0.

The project, spread across four districts in Maharashtra, involves an EPC cost of ₹712.16 crore (including GST). Ceigall will build, operate, and maintain the plants and supply power under a 25-year Power Purchase Agreement (PPA) with MSEDCL.

According to the company’s exchange filing, the projects must be executed within 18 months, with operations continuing for the 25-year contractual period. The order, awarded by a domestic entity, does not fall under related party transactions.

This development underscores Ceigall’s diversification into renewable energy, with the contract aligning with Maharashtra’s push for green energy through MSKVY 2.0, a scheme aimed at promoting solar power for agricultural consumers.

The shares of the company ended 1.25% in the red on Friday, October 3. The stock has fallen 24% in the year so far.

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