has secured two Letters of Intent (LOIs) from Maharashtra State Electricity Distribution Co. Limited (MSEDCL) for 337 MW of solar power procurement, marking the EPC company’s entry into the renewable energy sector.
The projects will involve establishing grid-connected solar power facilities across multiple locations in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 initiative. The contracts were awarded through a tariff-based competitive bidding process.
“Securing Letters of Intent for solar power procurement in marks Ceigall’s foray into the renewable energy sector,” said Ramneek Sehgal, Chairman & Managing Director. He described the move as reflecting the company’s commitment to India’s clean energy objectives.
Strategic diversification beyond roads and infrastructure
The renewable energy expansion represents a strategic diversification for Ceigall India, which primarily operates as an infrastructure EPC company specializing in elevated roads, flyovers, bridges, tunnels, highways, and runways. The company’s operations are divided between EPC projects and hybrid annuity model (HAM) projects.
Ceigall positions this entry into green energy as part of capturing emerging opportunities in India’s energy transition while strengthening its portfolio in high-growth sectors.
The shares of Ceigall India Limited were trading at ₹278.69 up by ₹4.60 or 1.68 per cent on the today at 2.40 pm.