Shares of Dilip Buildcon Ltd gained 1.86% to ₹524 in early trade on Tuesday after the company announced it had received a Letter of Acceptance (LoA) for developing a 100 MW grid-connected ground-mounted solar PV power project in Madhya Pradesh.
According to the company’s regulatory filing, the project will be executed through DBL-APMPL (JV), where Dilip Buildcon holds 74% and APMPL holds 26%. The project, located in Ramnagar and Dhanwada villages, Suwasra tehsil, Mandsaur district, will supply power to the Madhya Pradesh Jal Nigam (MPJNM) under a 25-year agreement from the date of commissioning.
The MPJNM will provide around 315 acres of land for the project. As per the captive mode structure, the power off-taker — MPJNM — will infuse ₹31.20 crore as equity or a similar instrument, corresponding to a 26% ownership stake in the project company.
The development marks a significant step for Dilip Buildcon’s diversification into the renewable energy sector, aligning with India’s green energy transition goals.
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