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Ceigall India Limited has entered into power purchase agreements with Maharashtra State Electricity Distribution Co. Ltd. for two solar photovoltaic projects with a combined capacity of 337 MW. The projects, being developed under Mukhyamantri Saur Krushi Vahini Yojana 2.0, involve an estimated investment of INR 1,369 crore and will be executed through the company's wholly-owned subsidiaries. One project of 190 MW will span four districts, while the 147 MW project will cover two districts, with an execution timeline of around 18 months.
Ceigall India Limited announced this week that it has formalised power purchase agreements with Maharashtra State Electricity Distribution Co. Ltd. for the development of two solar power projects with a total capacity of 337 MW. The agreements were executed a day prior through the company's wholly-owned subsidiaries, as per its exchange filing. Advertisement
These projects are planned under Mukhyamantri Saur Krushi Vahini Yojana 2.0, which focuses on expanding solar photovoltaic capacity to support agricultural and rural electricity needs. The combined development includes a 190 MW solar project spread across four districts in Maharashtra and another 147 MW project covering two districts.
The overall engineering, procurement, and construction (EPC) value of the projects is estimated at approximately INR 1,369 crore, inclusive of GST. The company has indicated that the execution timeline for both projects is expected to be around 18 months from the commencement stage.
Chairman and Managing Director Ramneek Sehgal noted that these agreements represent a significant step toward building a structured renewable energy portfolio. He stated that the company is focusing on assets that provide clear execution timelines along with long-term, annuity-like returns, highlighting the strategic importance of such projects in its overall growth approach.
Source PTI
FAQ
Q1: What agreements has Ceigall India Limited entered into?
Ceigall India Limited has signed power purchase agreements with Maharashtra State Electricity Distribution Co. Ltd. for developing two solar photovoltaic projects with a combined capacity of 337 MW.
Q2: What is the total capacity and structure of these solar projects?
The projects together have a capacity of 337 MW, comprising a 190 MW solar project spread across four districts and a 147 MW project covering two districts in Maharashtra.
Q3: Under which scheme are these solar projects being developed?
These projects are being developed under Mukhyamantri Saur Krushi Vahini Yojana 2.0, a state initiative aimed at enhancing solar power generation to support agricultural and rural electricity requirements.
Q4: What is the estimated investment for these projects?
The combined engineering, procurement, and construction (EPC) value of the projects is estimated at around INR 1,369 crore, inclusive of GST, reflecting the scale of development involved.
Q5: What is the execution timeline for the projects?
The company has indicated that both projects are expected to be completed within approximately 18 months from the start of execution, subject to implementation progress and approvals.
Q6: Through which entities will the projects be executed?
The projects will be executed through Ceigall India's wholly-owned subsidiaries, which will handle development, construction, and related operational responsibilities.
Q7: What is the strategic significance of these projects for the company?
These projects support Ceigall India's focus on building a renewable energy portfolio with assets that offer defined timelines and long-term, annuity-like returns, strengthening its presence in the solar energy segment.
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