New Delhi, March 25 Ceigall India announced on Wednesday that it has signed power purchase agreements with the Maharashtra state utility, MSEDCL, for two solar projects with a combined capacity of 337 MW, to be set up at an investment of Rs 1,369 crore.
Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) signed power purchase agreements (PPAs) with the company's two wholly-owned subsidiaries on March 24, Ceigall India said in an exchange filing.
The agreements cover 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). The first project, with a capacity of 190 MW, will be developed across four districts in Maharashtra, and another with a capacity of 147 MW will span two districts.
The combined EPC value of the projects is approximately Rs 1,369 crore (including GST). The execution timeline for the projects is 18 months.
Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, said, "These PPAs represent a significant step in building a scalable, long-term renewable energy platform for us. We are focusing on assets and opportunities that combine execution visibility with long-term annuity-style returns."
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