Ceigall India to Incorporate Two Wholly Owned Subsidiaries for 337 MW Solar Projects
Ceigall India approved incorporating two wholly-owned subsidiaries, Ceigall Green Energy MH1 and MH2, to execute 337 MW solar projects awarded by Maharashtra State Electricity Distribution Co. Ltd.
The incorporation of two SPVs to undertake substantial solar power projects (190 MW(AC) and 147 MW(AC)) represents a significant business expansion into the renewable energy sector, which is likely to have a high positive impact on the company's long-term growth and revenue potential.
The company is incorporating two wholly-owned subsidiaries to execute significant solar power projects totaling 337 MW(AC), demonstrating growth and expansion into the renewable energy sector.
* Ceigall India Limited's Management Committee approved the incorporation of two new wholly-owned subsidiaries, Ceigall Green Energy MH1 Limited and Ceigall Green Energy MH2 Limited, at a meeting held on October 16, 2025. * These entities are Special Purpose Vehicles (SPVs) established under the Companies Act, 2013, to operate in the Renewable Energy Industry in India. * Ceigall Green Energy MH1 Limited will undertake a project awarded by Maharashtra State Electricity Distribution Co. Ltd. on October 2, 2025, for a solar photovoltaic power generating station of an aggregate capacity of 190 MW(AC) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. * Ceigall Green Energy MH2 Limited will undertake a similar project awarded on October 2, 2025, for a solar photovoltaic power generating station of an aggregate capacity of 147 MW(AC) under the same scheme. * Ceigall India Limited will subscribe 100% to the paid-up share capital of each subsidiary in cash, with a cost of subscription of ₹1,00,000 for each SPV. * The incorporation process for both subsidiaries is currently underway.
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Ceigall India Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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