Ceigall India inks 15 PPAs for 130 MW solar capacity with MPPMCL
Ceigall India Limited's subsidiary has executed 15 PPAs with MPPMCL for 130 MW solar capacity under the Surya Mitra Krishi Feeder Yojana. The agreements are for 25 years at ₹2.85 per unit, with an estimated EPC cost of ₹572 crore.
The execution of PPAs for 130 MW solar capacity with a 25-year operational term and a substantial EPC cost of ₹572 crore is a significant business development that is likely to impact the company's revenue and project pipeline.
The execution of 15 PPAs for a significant solar capacity marks a positive development for the company's expansion in the renewable energy sector and aligns with national energy transition goals.
Ceigall Green Energy MP Limited, a wholly owned subsidiary of Ceigall India Limited, has executed 15 Power Purchase Agreements (PPAs) with Madhya Pradesh Power Management Company Limited (MPPMCL) for a total awarded solar capacity of 130 MW under the Surya Mitra Krishi Feeder Yojana.
The agreements stipulate that Ceigall Green Energy MP Limited will implement, operate, maintain, and supply power from solar photovoltaic generating stations for a period of 25 years at a quoted tariff of ₹2.85 per unit. The Surya Mitra Krishi Feeder Yojana is a government initiative aimed at providing reliable daytime power to the agricultural sector through dedicated solar feeders.
The project has an estimated EPC cost of ₹572 crore (including GST) and includes a 12-month execution period, followed by a 25-year operational term. Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, stated that this marks a significant step in strengthening Ceigall’s presence in India’s renewable energy sector and contributes to the implementation of the Surya Mitra Krishi Feeder Yojana.
This strategic foray into solar energy aligns with India’s push towards sustainable infrastructure and energy security, complementing Ceigall's core expertise in large-scale project execution. Ceigall India Limited is an infrastructure EPC company engaged in the development of highways, expressways, bridges, flyovers, railway overbridges, tunnels, and runways, executing projects under EPC and Hybrid Annuity Model (HAM) formats.
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