Ceigall India Limited has signed two significant Power Purchase Agreements (PPAs) through its wholly owned subsidiaries with Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) for a total solar capacity of 337 MW. The agreements, executed on 24th March 2026, are part of the Mukhyamantri Saur Krushi Vahini Yojana 2.0.
The first project, managed by Ceigall Green Energy MH1 Limited, involves the development of solar photovoltaic power generating stations with a capacity of 190 MW across four districts in Maharashtra. This project comes with an engineering, procurement, and construction (EPC) cost of approximately ₹772 crore, inclusive of GST. The second project, overseen by Ceigall Green Energy MH2 Limited, will establish a 147 MW capacity across two districts, with an EPC cost of approximately ₹597 crore, including GST. The combined EPC value of these projects is around ₹1,369 crore.
The projects are expected to be completed within 18 months and will involve the construction, operation, and maintenance of the solar power stations. The PPAs include a long-term commitment to supply power for 25 years, with tariffs ranging from ₹2.72 to ₹2.86 per unit.
Ramneek Sehgal, Chairman & Managing Director of Ceigall India Limited, emphasised the strategic importance of these agreements, stating, “We are building Ceigall into a scaled renewable platform with the ambition to be among the most credible infrastructure players in India’s energy transition. These PPAs mark a decisive step in building a scaled, long-duration renewable energy platform for us.”
These agreements signify a strategic milestone in Ceigall India’s expansion into the renewable energy sector, enhancing its order book and establishing a long-term presence in solar power generation. This move complements the company’s strong capabilities in transportation infrastructure.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).