Ceigall India signs PPA with Maharashtra discom MSEDCL for solar projects

Ceigall India on Wednesday said it has signed power purchase agreements with Maharashtra state utility MSEDCL for two solar projects of 337 MW capacity to be set up at an investment of ₹1,369 crore.

Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) signed power purchase agreements (PPAs) with the company's two wholly-owned subsidiaries on March 24, Ceigall India said in an exchange filing.

The agreements cover the development of solar photovoltaic power-generating stations with a combined capacity of 337 MW under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0). The first project, with a capacity of 190 MW, will be developed across four districts in Maharashtra and another with a capacity of 147 MW will span two districts.

 

The combined EPC value of the projects stands at approximately ₹1,369 crore (inclusive of GST). The execution timeline for the projects is 18 months.

Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, said, "These PPAs mark a decisive step in building a scaled, long-duration renewable energy platform for us. We are prioritising assets and opportunities that combine execution visibility with long-term annuity-style returns.