The company was selected as the Solar Power Developer (SPD) for solar photovoltaic power generating stations with an aggregate capacity of 147 MW (AC) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0.
The project involves the construction of the 147 MW solar plant, with an EPC (engineering, procurement, and construction) cost of Rs 597 crore.
Ceigall India will operate, maintain, and supply power for 25 years under a long-term power purchase agreement (PPA) with MSEDCL.
The construction and execution phase for the project is scheduled to be completed within 18 months, followed by the 25-year operational period.
Separately, Ceigall India stated that it has received one more LoA from MSEDCL for setting up grid-connected solar power projects at four districts in the state of Maharashtra. The power stations would have an aggregate capacity of 190 MW (AC). The total cost of this project would be Rs 712.16 crore.
Ceigall India is an infrastructure engineering, procurement, and construction (EPC) company undertaking specialized structural works such as elevated roads, flyovers, bridges, railway overbridges, tunnels, highways, expressways, and runways. The principal business operations are broadly divided into EPC projects and hybrid annuity model (HAM) projects.
The company’s consolidated net profit declined 33% to Rs 53.18 crore on a 1.9% rise in revenue from operations to Rs 838.18 crore in Q1 FY26 over Q1 FY25.
The scrip had declined 1.27% to end at Rs 260.65 on the BSE on Friday.