Dilip Buildcon has emerged as the lowest bidder (L-1) for a solar project of over 1,363 megawatts in Madhya Pradesh, the company said in its regulatory filing. The company has been selected as the L-1 bidder by Madhya Pradesh Urja Vikas Nigam to set up a solar project. The total capacity of the project stands at 1,363.55 MW (AC).
Madhya Pradesh solar project details
As part of the project, the company will build grid-connected solar power plants under the PM-KUSUM-C (Feeder Solarisation) scheme. The generated power will be sold to the Madhya Pradesh Power Management Company (MPPMCL) for a period of 25 years.
As per the company’s regulatory filing, the project will be implemented through special purpose vehicles, and the company will also secure an engineering, procurement and construction (EPC) contract worth Rs 4,900 crore (exclusive of GST). The project will be executed over the next 18 months, it added.
The contract is domestic in nature, and the disclosure has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Share Price
Following the announcement, the Dilip Buildcon share price was up by over 3%. Over the past five trading sessions, the company’s stock has delivered a return of over 7%.