Sungarner Energies Secures Letter of Intent for Madhya Pradesh Solar Project from Ceigall India Limited
Sungarner Energies Limited has received a Letter of Intent (LOI) from Ceigall India Limited (CIL). The contract involves executing subject works for the Madhya Pradesh Kusum Project, as agreed upon by both parties.The execution of the project will be carried out in two distinct phases under this agreement. Phase 1 focuses on land services, while Phase 2 covers the entire lifecycle of the solar power development across two sites in Madhya Pradesh.
Phase 1 involves Land Lease services for two designated sites in Madhya Pradesh. This phase includes site identification, liaison activities, and necessary registration processes.
Phase 2 encompasses the full scope of the solar power project, including design engineering, procurement, construction, and commissioning. The projects are slated to be located at Chirapatta and Chuna Hajuri.
Details regarding the contract size and timelines have been established for the domestic entity. The total project size is valued at 12.5 MW, with a consideration amount stated as approximately Rs. 24 Crore.
The implementation schedule specified by the parties includes:
- Phase 1 completion within 30 days.
- Phase 2 completion within 90 days.
Key details of the contractual agreement between Sungarner Energies Limited and Ceigall India Limited are summarized below:
| Particulars | Details |
|---|---|
| Name of Awarding Entity | Ceigall India Limited |
| Nature of Contract | Contractual |
| Project Scope | Madhya Pradesh Kusum Project |
| Total Capacity | 12.5 MW |
| Consideration Amount | Approx. Rs. 24 Crore |
| Phase 1 Focus | Land Lease services for site identification, liaison and registration (30 days) |
| Phase 2 Focus | Design engineering, Procurement, Construction, and Commissioning of solar projects at Chirapatta and Chuna Hajuri (90 days) |
SEL Stock Price Movement
Sungarner Energies Limited shares closed today after rallying, finishing at ₹314.8 and recording a solid 3.83% gain. The stock hit its 52-week high during the session, trading on a volume of 31,400 shares.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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