Ceigall India Limited (CIL) has announced a significant win for its joint venture in the infrastructure sector. The company's joint venture, CIL-JSPPPL (JV), has been awarded a substantial road construction project by the Greater Mohali Area Development Authority (GMADA) in Aerotropolis, SAS Nagar.

Contract Details

The project, valued at Rs. 509.21 crore, involves the construction of internal roads in Pockets B, C, and D of Aerotropolis, SAS Nagar. The scope of work encompasses civil, public health, and electrical works, highlighting the comprehensive nature of the project.

Joint Venture Structure

The winning joint venture, CIL-JSPPPL (JV), is a collaboration between Ceigall India Limited and JSP Projects Pvt. Ltd. Ceigall India holds a majority stake of 80% in the joint venture, while JSP Projects Pvt. Ltd. holds the remaining 20%.

Project Specifics

According to the Letter of Award, the key details of the project are as follows:

Significance of the Award

This contract represents a notable achievement for Ceigall India's infrastructure division. It not only strengthens the company's order book but also showcases its capability to secure and execute large-scale infrastructure projects.

Regulatory Compliance

In compliance with SEBI regulations, Ceigall India has promptly disclosed this material development to the stock exchanges. The company has assured that the contract does not fall under related party transactions, and there is no interest from the promoter or promoter group in the awarding entity.

The successful bid for this project underscores Ceigall India's growing presence in the infrastructure sector and its ability to contribute to significant urban development initiatives. As the company embarks on this 24-month project, stakeholders will be keenly watching its execution and the potential impact on Ceigall India's financial performance in the coming quarters.

Ceigall India Limited has emerged as the lowest bidder for a significant solar power project in Madhya Pradesh, marking a major milestone in the company's renewable energy portfolio.

Project Details

Ceigall India has been declared the L-1 (lowest) bidder for a 220 MW solar power project with battery energy storage systems (BESS) at Morena Solar Park, Madhya Pradesh. The company secured this capacity out of the total 440 MW project through a tariff-based competitive bidding process conducted by Rewa Ultra Mega Solar Limited.

Competitive Tariff

In an electronic reverse auction, Ceigall India quoted a highly competitive tariff of ₹2.70 per kilowatt-hour (kWh). This competitive pricing demonstrates the company's strong position in the renewable energy sector and its ability to deliver cost-effective solar solutions.

Project Scope and Value

The project involves the establishment of a grid-connected ground-mounted solar photovoltaic system with battery energy storage systems. According to the company's disclosure, the approximate value of the project is ₹1700.00 crores, including GST.

Timeline

The construction period for the project is set at 24 months, followed by an operational period of 25 years. This long-term commitment underscores the project's significance in India's renewable energy landscape.

Company Statement

Megha Kainth, Company Secretary & Compliance Officer of Ceigall India Limited, stated in the regulatory filing, "We are pleased to inform you that our Company has emerged as the Lowest (L-1) Bidder in auction 'Establishment of Grid-Connected Ground-Mounted Solar Photovoltaic (PV) Project with Battery Energy Storage Systems (BESS) at Morena Solar Park, Madhya Pradesh,' through a tariff-based competitive bidding."

Market Impact

This project win is expected to significantly bolster Ceigall India's position in the renewable energy sector. The integration of battery energy storage systems with solar power generation showcases the company's commitment to advanced and sustainable energy solutions.

The successful bid for this large-scale project not only demonstrates Ceigall India's competitive edge in the solar power industry but also contributes to India's growing renewable energy capacity. As the country continues to prioritize clean energy sources, projects like this play a crucial role in achieving national sustainability goals and reducing carbon emissions.

Investors and industry observers will likely keep a close watch on Ceigall India's execution of this project, as it represents a significant addition to the company's project portfolio and could impact its future growth trajectory in the renewable energy sector.