Ceigall enters Renewable Energy Space, Secures 337 MW LoIs from MSEDCL for procurement of Solar Power

Ceigall India Limited, one of India's fastest-growing EPC companies, has announced its foray into the renewable energy space, securing two Letters of Intent (LOIs) from the Maharashtra State Electricity Distribution Co. Limited (MSEDCL) for the procurement of solar power.

The project, sanctioned under the flagship initiative Mukhyamantri Saur Krushi Vahini Yojana 2.0, will entail the setting up of grid-connected solar power projects at multiple locations across Maharashtra, through the procurement of 337 MW solar power against tariff based competitive bid invited by MSEDCL.

Commenting on the development, Ramneek Sehgal, Chairman & Managing Director of Ceigall India Limited, said, "Securing Letters of Intent for solar power procurement in Maharashtra marks Ceigall's foray into the renewable energy sector - a space that will define the future of infrastructure and sustainable development in the country. This milestone reflects our commitment to building world-class solar projects that advance India's clean energy goals while empowering communities with reliable green power. This milestone is just the beginning - we envision Ceigall playing a leading role in India's energy transition and creating long-term value for all stakeholders."

The foray into renewables underscores Ceigall India's strategic diversification into high-growth sectors, strengthening its portfolio. By entering the green energy domain, the company is well-positioned to capture emerging opportunities, enhance long-term value creation, and reinforce its commitment to driving sustainable infrastructure growth in line with India's energy transition goals.

Shares of Ceigall India Limited was last trading in BSE at Rs. 278.20 as compared to the previous close of Rs. 274.20. The total number of shares traded during the day was 66480 in over 2664 trades.

The stock hit an intraday high of Rs. 287.00 and intraday low of 276.60. The net turnover during the day was Rs. 18633229.00.

Source : Equity Bulls

Keywords

INE0AG901020 CeigallIndia CivilConstruction RenewableEnergy MSEDCL