Silgo Retail Secures 37 MW Solar Projects with MSEDCL in Maharashtra
Silgo Retail Limited has strengthened its presence in the renewable energy sector after the target companies acquired, Terraverde Renewables Private Limited and Bluesky Renewables Private Limited, secured Power Purchase Agreements (PPAs) with the Maharashtra State Electricity Distribution Company Limited (MSEDCL). These projects involve the development of solar power capacity aggregating 37 MW (AC) within the state of Maharashtra.The agreements, executed with MSEDCL on April 16, 2025, mandate that the generated power be supplied to MSEDCL at a fixed tariff of ₹3.09 per kWh for a period spanning 25 years. The projects are strategically important, as they are eligible for substantial subsidy support expected to enhance their long-term viability and returns.
The aggregated solar capacity is distributed across six sites in multiple districts of Maharashtra, including Chandrapur, Gadchiroli, Akola, and Amravati.
| Feature | Details |
|---|---|
| Total Contracted Capacity | 37 MW (AC) |
| Project Duration | 25 years |
| Fixed Tariff Rate | ₹3.09 per kWh |
| Subsidy Eligibility | Approx. ₹ 90.60 lakh per MW (AC) |
| Total Subsidy Value | Approx. ₹ 33.52 crore |
The acquisition of the target companies and the underlying solar power projects aligns with Silgo Retail Limited's strategy focused on creating long-term value through sustainable clean energy initiatives.
Details regarding the agreements include:
- Terraverde Renewables Private Limited: The company, in which Silgo acquired a 49% equity stake, is proposed to become a Wholly Owned Subsidiary of Silgo Retail Limited.
- Bluesky Renewables Private Limited: Similarly, this entity, where Silgo holds a 49% equity stake, is also set to become a Wholly Owned Subsidiary.
Both companies are intended to develop, establish, operate, and maintain solar power projects to sell the electricity generated to MSEDCL, thereby supporting its renewable energy procurement requirements.
SILGO Stock Price Movement
Shares of Silgo Retail Limited are edging higher to ₹75.86 as of 1:50 PM today, currently gaining 1.07% in live trading. The stock demonstrates robust market activity, having traded a volume of 275,218 shares during the current session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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