New Delhi: Engineering firm Ceigall India on Monday said it has received two Letters of Intent (LoIs) to procure 337 MW solar power from Maharashtra State Electricity Distribution Co Ltd (MSEDCL), marking its debut into the renewable energy business.
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The project, sanctioned under 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, the engineering, procurement and construction (EPC) company said in a statement.
"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," Ramneek Sehgal, Chairman & Managing Director of Ceigall India, said.
The foray into renewables underscores the company's strategic diversification into high-growth sectors, strengthening its portfolio, the statement added.
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.
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The infrastructure EPC company undertakes specialised structural works such as elevated roads, flyovers, bridges, railway overbridges, tunnels, highways, expressways, and runways.
The principal business operations are broadly divided into EPC projects and hybrid annuity model (HAM) projects.