Highlights
- Ceigall subsidiary signed a PPA for a 220 MW Solar-BESS project.
- The project is located at Morena Solar Park in Madhya Pradesh.
- The project carries an estimated value of around Rs 1,700 crore including GST.
Ceigall India Ltd. (NSE:CEIGALL) announced that its wholly owned subsidiary, Ceigall Morena Solar BESS Park Limited, has executed a Power Purchase Agreement (PPA) with Rewa Ultra Mega Solar Limited for a 220 MW Solar and Battery Energy Storage System (BESS) project. The announcement was made through a press release submitted to the National Stock Exchange (NSE) and BSE on June 30, 2026, following the company's earlier exchange filing.
Source: Analysis by Kalkine
Project to Be Developed in Morena, Madhya Pradesh
According to the company, the project will be developed at Morena Solar Park in Madhya Pradesh. The tariff-based project has an estimated value of approximately Rs 1,700 crore, including GST, and combines solar power generation with Battery Energy Storage Systems (BESS).
The project has an 18-month construction timeline, followed by a 25-year operational period. The company stated that the discovered tariff for the project is Rs 2.70 per kWh.
Project Expands Renewable Energy Portfolio
The company stated that the project adds to its infrastructure portfolio, alongside its existing presence in transportation and civil infrastructure. The announcement noted that the project strengthens its participation in the renewable energy sector through utility-scale solar and battery storage infrastructure.
Management Commentary
Commenting on the development, Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, said:
"Infrastructure continues to be one of the strongest pillars of India's journey towards becoming a Viksit Bharat. As the country accelerates investments across transportation, energy and urban development, we remain committed to building world-class assets that create long-term value for the nation. This project reflects our growing capabilities beyond conventional infrastructure and strengthens our presence in the clean energy ecosystem. We are confident that our diversified expertise, supported by a strong leadership team, will enable us to contribute meaningfully to India's sustainable growth story while creating lasting value for all stakeholders."
Board Strengthened Alongside Expansion
The company also stated that it has strengthened its governance framework with the appointment of two experienced professionals to its Board of Directors. According to the press release, the appointments are intended to enhance strategic oversight as the company expands across infrastructure segments.
Ceigall India said it continues to execute engineering, procurement and construction (EPC) projects across highways, expressways, bridges, railway overbridges, tunnels, runways and other infrastructure assets while expanding into renewable energy through utility-scale solar and Battery Energy Storage System projects.
Key Risks
- Project execution delays could affect construction timelines.
- Regulatory approvals may influence project implementation schedules.
- Supply chain disruptions could impact equipment availability.
- Renewable energy projects remain subject to tariff and policy changes.
Summary
Ceigall India (NSE:CEIGALL) announced that its wholly owned subsidiary signed a Power Purchase Agreement with Rewa Ultra Mega Solar Limited for a 220 MW Solar and Battery Energy Storage System project at Morena Solar Park, Madhya Pradesh. The project is valued at around Rs 1,700 crore, including GST, with an 18-month construction period and a 25-year operational tenure.
FAQs
Q: What agreement has Ceigall India signed for its renewable energy project?
A: Ceigall's wholly owned subsidiary executed a Power Purchase Agreement for a 220 MW Solar and Battery Energy Storage System project.
Q: Where will Ceigall India's Solar-BESS project be developed?
A: The project will be developed at Morena Solar Park in the state of Madhya Pradesh.
Q: What are the project value and execution timeline?
A: The project is valued at approximately Rs 1,700 crore, including GST, with an 18-month construction period.