Construction engineering company Ceigall India has received a project worth Rs 1,700 crore for the development of Unit 1 (220 MW) solar park in Madhya Pradesh. The tariff for the project stands at Rs 2.70 per kWh.
Ceigall India: Project details
As per the company’s regulatory filing, it has received a Letter of Award from Rewa Ultra Mega Solar for the development of Unit 1 at Morena Solar Park in Madhya Pradesh. This comprises a 220 MW solar power project integrated with a Battery Energy Storage System (BESS).
The approximate value of the project stands at Rs 1,700 crore (including GST), and Ceigall India secured the project via a tariff-based competitive bidding mechanism. The tariff value stands at Rs 2.70 per kWh.
The construction period for the contract is 24 months, while the operational period is 25 years. “The project is expected to contribute significantly to Madhya Pradesh’s renewable energy capacity and support India’s broader clean energy transition goals,” Ceigall India said in its filing.
Commenting on the development, Ramneek Sehgal, Chairman & Managing Director of Ceigall India, said, “This project strengthens our presence in the clean energy segment, and we are committed to executing it efficiently while supporting India’s energy transition and decarbonisation objectives. This order further strengthens Ceigall India’s growing order book and marks a strategic expansion into large-scale renewable energy infrastructure.”
About Morena Solar Park
The Morena Solar Park is a renewable energy initiative in the town of Morena in Madhya Pradesh, designed to enhance grid stability through integrated storage solutions.
Ceigall India: Share price
The share price of Ceigall India was up nearly 4% in the intraday session. Over the past five trading sessions, the company’s stock has delivered a return of over 7%. However, over the past one year, the company’s stock has been trading nearly flat, with a return of 0.61%.