Ceigall India saw its shares rise over 2% in early morning trade following the announcement that the company has received a Letter of Intent (LoI) from Maharashtra State Electricity Distribution Company Limited (MSEDCL). The LoI is for the procurement of 147 MW of solar power capacity under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0. As of 9:18 AM, the shares were trading 2.68% at Rs 281.43.
The LoI, issued under reference LoI #2: MSKVY 2.0/ROUND 2, comes after a tariff-based competitive bidding process conducted by MSEDCL. Under this mandate, Ceigall India will develop grid-connected solar power projects across multiple locations in Maharashtra, reinforcing the state’s renewable energy targets and providing sustainable energy solutions for farmers.
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