Ceigall India Wins ₹597 Crore Solar Power Project from Maharashtra State Electricity Distribution; Share Price Surges

Ceigall India Limited has announced that it has received a Letter of Award (LoA) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) to act as the Solar Power Developer (SPD) for grid-connected solar photovoltaic power generating stations with a combined capacity of 147 MW (AC). 

The projects fall under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0, an initiative aimed at expanding solar energy generation across rural Maharashtra.

Project Details and Terms

The project carries an Engineering, Procurement, and Construction (EPC) cost of ₹597 crore (including GST) and will be developed across two districts in Maharashtra. According to the LoA dated October 2, 2025, the work execution period is set at 18 months, followed by a 25-year operational tenure under a long-term Power Purchase Agreement (PPA) with MSEDCL.

The project will be executed entirely within India and includes both the construction and long-term operation and maintenance of the solar power facilities. The awarded contract does not involve any related-party transactions or promoter interests.

Strategic Importance

The award marks another milestone in Ceigall India’s renewable energy portfolio, strengthening its position as a key contributor to India’s solar infrastructure expansion. The Mukhyamantri Saur Krushi Vahini Yojana 2.0 focuses on harnessing solar power for agricultural and rural needs, enabling farmers to access affordable, clean electricity while reducing grid dependency.

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Ceigall India Share Price Performance 

As of October 6, 2025, at 12:28 PM, Ceigall India share price is trading at ₹267.05 per share, reflecting a gain of 2.48% from the previous closing price.

Conclusion

With this ₹597 crore solar project, Ceigall India is set to play a vital role in Maharashtra’s renewable energy mission. The 147 MW solar capacity will contribute to the state’s clean energy goals and further strengthen Ceigall’s track record in executing large-scale infrastructure and green power projects.

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