Hariom Pipe Industries Limited (HPIL) has received a Letter of Award (LoA) for developing a 60 MW (AC) solar power project under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, a scheme designed to implement feeder-level solarization as part of Component C of the PM Kusum Scheme.
According to the company’s exchange filing, the Maharashtra State Electricity Distribution Company Limited (MESDCL) has awarded this contract. MESDCL will purchase power generated from the project for 25 years, ensuring long-term revenue visibility for HPIL.
Key details of the project:
- Fixed Power Purchase Agreement (PPA) Tariff: ₹2.96/kWh for 25 years
- Subsidy: ₹1.05 crore per MW
- Additional incentive: ₹0.25/kWh for the first three years if the project is commissioned on time
- Execution timeline: 18 months
- Scope of work: Ownership, financing, development, engineering, procurement, construction, commissioning, operation, and maintenance of the solar project, including evacuation infrastructure up to the delivery point.
With this venture, Hariom Pipe Industries marks its entry into the renewable energy sector, aligning with India’s clean energy transition. The move is expected to strengthen HPIL’s long-term growth prospects while enhancing its sustainability profile.
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