Ceigall India secures 337 MW Solar PPAs in Maharashtra worth ₹1,369 Crore
Ceigall India Limited has executed 337 MW of solar Power Purchase Agreements (PPAs) in Maharashtra through its subsidiaries. The combined EPC cost is approximately ₹1,369 crore. These agreements are for 25 years, with an 18-month execution timeline under the Mukhyamantri Saur Krushi Vahini Yojana 2.0.
The execution of PPAs for a substantial capacity of 337 MW with a total EPC value of ₹1,369 crore represents a major new business win and strategic expansion into the renewable energy sector, which will have a high impact on the company's future revenue and growth.
The announcement details the execution of significant new power purchase agreements, expanding the company's renewable energy portfolio and order book, which is a positive development.
Ceigall India Limited, through its wholly owned subsidiaries Ceigall Green Energy MH1 Limited and Ceigall Green Energy MH2 Limited, has executed Power Purchase Agreements (PPAs) with Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) on 24th March 2026. These agreements are for a combined capacity of 337 MW under the Mukhyamantri Saur Krushi Vahini Yojana 2.0.
The first project, awarded to Ceigall Green Energy MH1 Limited, is for 190 MW across four districts in Maharashtra, with an EPC cost of approximately ₹772 crore (including GST). The second project, awarded to Ceigall Green Energy MH2 Limited, is for 147 MW across two districts, with an EPC cost of approximately ₹597 crore (including GST). The total EPC value for both projects amounts to approximately ₹1,369 crore.
The agreements stipulate a 25-year term for operating, maintaining, and supplying power at quoted tariffs ranging from ₹2.72 to ₹2.84 per unit for the 190 MW project and ₹2.86 per unit for the 147 MW project. The execution timeline for the projects is 18 months, followed by a 25-year operational period.
Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, stated that these PPAs represent a significant step in building a scaled, long-duration renewable energy platform, positioning the company as a credible developer-operator in India's energy transition. These agreements enhance the company's order book visibility and establish a long-term presence in solar power generation, complementing its existing EPC capabilities in transportation infrastructure.
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