Renewable Energy Infrastructure
Ceigall India Signs ₹1,700 Crore Solar-BESS PPA for 220 MW Renewable Energy Project in Madhya Pradesh
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Ceigall India Limited has announced the execution of a Power Purchase Agreement (PPA) for a 220 MW Solar and Battery Energy Storage System (BESS) project at Morena Solar Park, Madhya Pradesh. The project, valued at approximately ₹1,700 crore (including GST), marks another major step in the company’s expansion into renewable energy infrastructure through its wholly owned subsidiary, Ceigall Morena Solar BESS Park Limited.
PRICE-SENSITIVE TRIGGER
Event: Execution of a 220 MW Solar-BESS Power Purchase Agreement (PPA).
Type: Renewable Energy Infrastructure
Impact: Positive
Immediate Effect: The project expands Ceigall India’s renewable energy portfolio, strengthens its diversification beyond transportation infrastructure, and establishes a long-term presence in India’s fast-growing utility-scale clean energy sector.
Key Metrics:
- Project Value: Approximately ₹1,700 crore (including GST)
- Project Capacity: 220 MW Solar + Battery Energy Storage System (BESS)
- Project Location: Morena Solar Park, Madhya Pradesh
- Construction Period: 18 months
- Operating Period: 25 years
- Discovered Tariff: ₹2.70 per kWh
Highlight:
- The project combines utility-scale solar generation with Battery Energy Storage Systems (BESS), creating a long-duration revenue-generating renewable infrastructure asset.
What Happened ?
Ceigall India, through its wholly owned subsidiary Ceigall Morena Solar BESS Park Limited, has executed a Power Purchase Agreement with Rewa Ultra Mega Solar Limited (RUMSL) for developing a 220 MW Solar-BESS projectat Morena Solar Park in Madhya Pradesh.
The project integrates solar power generation with battery storage technology, supporting grid reliability while contributing to India’s clean energy transition. Upon completion of the construction phase, the company will operate the project for a period of 25 years under the executed PPA.
Key Details
Project Highlights:
- Executed through wholly owned subsidiary Ceigall Morena Solar BESS Park Limited.
- PPA signed with Rewa Ultra Mega Solar Limited (RUMSL).
- Project consists of 220 MW Solar Power with Battery Energy Storage System (BESS).
- Total project value is approximately ₹1,700 crore including GST.
- Located at Morena Solar Park, Madhya Pradesh.
- Construction is expected to be completed within 18 months.
- The project carries a 25-year operational period.
- Winning tariff under the competitive bidding process is ₹2.70 per kWh.
Operational Significance:
- This marks one of Ceigall India’s largest renewable energy initiatives and demonstrates its strategy of expanding beyond EPC road and transportation projects into utility-scale clean energy infrastructure. The project enhances business diversification while creating a long-term recurring revenue opportunity through power generation and storage operations.
Risk Analysis
Summary:
- Although the PPA represents a significant business milestone, successful execution will depend on timely construction, regulatory compliance and long-term operational performance.
Key Risks:
- Completion of the project within the planned 18-month construction schedule.
- Execution risks associated with large-scale Solar-BESS infrastructure.
- Cost management during project implementation.
- Long-term operational efficiency of battery storage systems.
- Regulatory and policy changes affecting renewable energy projects.
Worst Case:
- Construction delays, cost overruns or operational underperformance could impact project profitability and return on investment.
Risk Level: Medium
Company Commentary
- The company views infrastructure as a key pillar of India’s long-term economic growth.
- The project reflects Ceigall India’s growing capabilities beyond conventional infrastructure development.
- Management believes the renewable energy expansion strengthens its position within India’s clean energy ecosystem.
- The company remains committed to delivering world-class infrastructure assets that support sustainable development and long-term shareholder value.
- Ceigall continues to strengthen its governance framework as it enters its next phase of growth.
Official Exchange Filing: Ceigall India Limited
