Choice Intl rallies as arm secures project from MSEDCL for development of solar plant
Choice International rose 2.52% to Rs 517 after its subsidiary, Choice Consultancy Services (CCSPL), secured a project from the Maharashtra State Electricity Distribution Company (MSEDCL) for the development of a 45 MW (AC) solar plant.
The project is awarded under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0), launched as part of component C of the PM-KUSUM scheme to facilitate feeder-level solarisation across Maharashtra.
In this project, Choice will act as the strategic consulting partner, leading the end-to-end advisory for project structuring, compliance management, and supervision across 18 substations in Maharashtra.
Furthermore, it will oversee the installation of associated 11kV or 22kV lines and conduct testing and commissioning activities. With a 25-year power purchase agreement (PPA) framework in place, this initiative will support decentralized solar generation for agricultural feeders.
The project is expected to generate revenue of approximately Rs 700 crore creating lasting value for rural communities and reinforcing the companys leadership in the green energy consulting space.
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This development marks a significant milestone in the journey of CCSPL, demonstrating its capacity to drive high-impact, sustainable infrastructure solutions.
Arun Poddar, CEO of Choice International, stated, "This project underscores our unwavering commitment to renewable energy and sustainable development. We are proud to contribute to Maharashtras clean energy goals and play an active role in Indias transition to a greener future."
Choice International provides services like Broking & Distribution, Investment Banking, Financial services, etc.
The company's consolidated net profit declined 25.4% to Rs 29.40 crore in Q3 FY25 as against Rs 39.42 crore posted in Q3 FY24. Net sales marginally rose 0.8% to Rs 211.49 crore in Q3 FY25 over Q3 FY24.
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First Published: Apr 11 2025 | 3:10 PM IST