Ceigall India Limited has executed two long-term power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Co. Ltd. on 24 March 2026 for the development of solar photovoltaic generating stations totalling 337 megawatt (MW) capacity under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. The agreements were executed through its subsidiaries Ceigall Green Energy MH1 Limited and Ceigall Green Energy MH2 Limited.

The first project comprises 190 MW across four districts and carries an engineering, procurement, and construction cost of approximately Rs. seven point seven two billion (bn) inclusive of GST. The second project comprises 147 MW across two districts and carries an EPC cost of approximately Rs. five point nine seven bn inclusive of GST. The combined EPC value is approximately Rs. 13.69 bn and the company has set an execution timeline of 18 months.

The scope covers engineering, procurement, and construction of the solar photovoltaic stations followed by operations and maintenance and a long-term commitment to supply power for 25 years under the PPA framework. The company stated that these agreements mark a decisive step in building a scaled renewable energy platform and that it is prioritising assets and opportunities which combine execution visibility with annuity-style returns. Senior leadership described the intention to position the business not merely as an EPC contractor but as a developer-operator capable of delivering, owning, and managing large renewable assets over decades.

The projects are presented as a strategic milestone in Ceigall India's expansion into renewable energy and are expected to complement its existing EPC capabilities in transportation infrastructure. They are anticipated to strengthen order book visibility while further establishing a long-term presence in solar power generation and contributing to India's clean energy transition. The projects will provide multiyear revenue visibility and support local employment during construction and operations, benefiting regional economies.