Dilip Buildcon Limited on Tuesday announced that it has received a Letter of Award (LoA) from Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) for the development of large-scale solar power projects under the PM KUSUM-C (Surya Mitra Krishi Solarization) scheme.
According to the regulatory filing, the LoA covers a total capacity of 1,363.55 MW (AC) under the Non-DCR category, involving the establishment of grid-connected Solar PV-based power plants for feeder-level solarization. The power generated from these projects will be sold to Madhya Pradesh Power Management Company Limited (MPPMCL) under a 25-year power purchase agreement (PPA) .
The company said the project will be executed through multiple special purpose vehicles (SPVs). As part of the arrangement, Dilip Buildcon will secure an engineering, procurement and construction (EPC) opportunity valued at approximately Rs 4,900 crore, excluding GST. The EPC work is expected to be completed over the next 18 months .
The scope of work includes development, design, engineering, supply, construction, testing, commissioning, and operation and maintenance of the solar PV plants, in line with MNRE guidelines, MPERC regulations and the model PPA framework. The order has been awarded by a domestic entity and does not fall under related-party transactions, the filing added .
Dilip Buildcon also informed that, in accordance with SEBI’s insider trading regulations and the company’s internal code of conduct, the trading window for dealing in the company’s securities has been closed for designated persons and insiders until 48 hours after the information is made public.
The latest order strengthens Dilip Buildcon’s presence in the renewable energy EPC space and adds significantly to its order book under government-backed solarisation programmes.
