Ceigall India Secures 337 MW Solar Power Purchase Agreements in Maharashtra
Ceigall India Limited (BSE: 544223 | NSE: CEIGALL) announced on March 25, 2026, that its wholly owned subsidiaries, Ceigall Green Energy MH1 Limited and Ceigall Green Energy MH2 Limited, have executed Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL). The agreements pertain to the development of solar photovoltaic power generating stations with a combined capacity of 337 MW under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0).Ceigall Green Energy MH1 Limited has a capacity of 190 MW across four districts, while Ceigall Green Energy MH2 Limited has a capacity of 147 MW spanning two districts. The projects entail an engineering, procurement, and construction (EPC) cost of approximately Rs. 772 crore and Rs. 597 crore, respectively, including GST. The total EPC cost for both projects amounts to approximately Rs. 1,369 crore.
The projects will operate for a period of 25 years, with an initial work execution timeline of 18 months. The tariff for Ceigall Green Energy MH1 Limited is between Rs. 2.72 and Rs. 2.84 per unit, while the tariff for Ceigall Green Energy MH2 Limited is Rs. 2.86 per unit.
Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, stated that the PPAs mark a significant step in building a scaled renewable energy platform for the company.
According to a press release, Ceigall India Limited is an infrastructure engineering, procurement, and construction (EPC) company engaged in the development of infrastructure projects including highways and bridges.
| Sl. No. | Particulars | Remarks | |
|---|---|---|---|
| Name of SPVs | Ceigall Green Energy MH1 Limited | Ceigall Green Energy MH2 Limited | |
| 1 | Name of the entity awarding the order(s) /contract(s); | Maharashtra State Electricity Distribution Co. Ltd | Maharashtra State Electricity Distribution Co. Ltd |
| 2 | Significant terms and conditions of order(s) / contract(s) awarded in brief; | Operate, maintain and supply power for 25 Years under long term PPA at quoted tariff. | Operate, maintain and supply power for 25 Years under long term PPA at quoted tariff. |
| 3 | Whether order(s) / contract(s) have been | Domestic | Domestic |
| 7 | Broad consideration or size of the order(s) / contract(s); | EPC cost approx. Rs. 772/- Crore (Including GST). | EPC cost approx. Rs. 597/- Crore (Including GST) |
| 8 | Whether the promoter/ promoter group / group companies have any interest in the entity that awarded the order(s)/contract(s)? If yes, nature of interest and details thereof. | No | No |
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