Order Win / Long-term Contract
Ceigall Executes 15 PPAs with MPPMCL for 130 MW Solar Capacity
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Ceigall India, through its subsidiary, has executed 15 Power Purchase Agreements (PPAs) with MPPMCL for 130 MW solar capacity under the Surya Mitra Krishi Feeder Yojana, strengthening its presence in renewable energy.
PRICE-SENSITIVE TRIGGER
Event: Execution of 15 PPAs for solar power projects
Type: Order Win / Long-term Contract
Impact: Positive
Immediate Effect: Provides long-term revenue visibility with 25-year power supply agreements.
Key Metrics
- Total Solar Capacity: 130 MW
- Tariff: ₹2.85 per unit
- Project Cost (EPC): ₹572 Crore (including GST)
- Execution Timeline: 12 Months
- Operational Period: 25 Years
Highlights
Project Cost: ₹572 Crore
What Happened ?
Ceigall Green Energy MP Limited, a wholly owned subsidiary of Ceigall India Limited, has executed 15 Power Purchase Agreements (PPAs) with Madhya Pradesh Power Management Company Limited (MPPMCL).
The agreements cover a total solar capacity of 130 MW under the Surya Mitra Krishi Feeder Yojana, a government initiative aimed at providing reliable daytime electricity for agricultural use.
key contract details
- 15 PPAs signed with MPPMCL
- Solar capacity: 130 MW
- Tariff fixed at ₹2.85/unit
- Project execution period: 12 months
- Long-term agreement: 25 years operational period
- EPC project cost estimated at ₹572 crore
- Domestic contract (no related party involvement)
Note: Long-term PPAs ensure stable cash flow and predictable revenue stream.
Company Commentary
- Management highlighted this as a key milestone in renewable energy expansion
- Strengthens Ceigall’s presence in solar infrastructure
- Aligns with India’s clean energy transition goals
- Reinforces long-term infrastructure + energy diversification strategy
Risk Analysis
Key Risks
- Execution delays within 12-month timeline
- Cost overruns impacting margins
- Fixed tariff risk over long-term (₹2.85/unit)
- Dependence on state discom payment cycle
Worst Case Scenario
Delays or cost escalation combined with payment issues could impact project returns.
Risk Level: Medium
Official Exchange Filing: Ceigall India Limited