Ceigall India wins ₹1,700 crore 220 MW solar plus storage project at Morena Solar Park

Infrastructure company Ceigall India Ltd on Monday said it has received a Letter of Award (LOA) from Rewa Ultra Mega Solar Ltd for the development of Unit 1 at Morena Solar Park, with an installed capacity of 220 MW. The project is part of a 440 MW tender floated by RUMSL for the Morena Solar Park in Madhya Pradesh.

The awarded project comprises both solar power generation and Battery Energy Storage Systems (BESS) components. It is a tariff-based contract, with Ceigall quoting a tariff of INR 2.70 per kWh. The total project value, including goods and services tax, is estimated at around INR 1,700 crore.

Timeline and Contract Details

According to the company, the LOA has been awarded by a domestic entity. The project is scheduled to be executed over a construction period of 24 months, followed by an operational period of 25 years. Ceigall India stated that the order does not involve any related party transactions and that no promoter, promoter group, or group companies have any interest in the entity awarding the contract.

ACME Solar Holdings Limited is a leading integrated renewable energy player with a diversified portfolio of 8,071 MW spanning solar, wind, storage, FDRE and hybrid solutions and an operational contracted capacity of 2,966 MW and under construction contracted capacity of 5,105 MW including ~17 GWh of BESS installation. The under construction PPA signed portfolio stands at 2,664 MW.

Q3 Financial Performance

Ceigall India also reported its financial results for the third quarter. Net profit for the period rose marginally by 1.2 percent year-on-year to INR 74.1 crore, compared with INR 73.2 crore in the same quarter last year. Revenue from operations increased by 19.3 percent to INR 991 crore from INR 830.5 crore, reflecting steady execution across its ongoing infrastructure projects.

The new solar plus storage order adds to Ceigall India’s project pipeline and strengthens its presence in the renewable energy segment, even as the company continues to post revenue growth on the back of active project execution.