Ceigall India has incorporated a wholly owned subsidiary, Ceigall Green Energy MP Limited, to execute its ₹550 crore solar power project awarded by Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL). The subsidiary was incorporated on January 5, 2026, as a Special Purpose Vehicle (SPV) for the 130 MW solar project under the PM KUSUM-C scheme.

Official Contract Award and Project Details

The infrastructure development company had earlier received Letters of Award from MPUVNL for Solar PV based Power Plants (SPP) with an aggregate capacity of 130 MW (AC) under the Surya Mitra Krishi Feeders Scheme - PM KUSUM-C. The project involves setting up grid-connected solar power plants across two districts in Madhya Pradesh.

Subsidiary Incorporation Framework

Ceigall Green Energy MP Limited has been incorporated as a wholly owned subsidiary under the Companies Act, 2013, specifically to implement the MPUVNL solar project. The company has invested ₹1.00 lakh as cash consideration for 100% shareholding in the subsidiary, which operates in the renewable energy industry.

Project Execution Timeline and Structure

The solar power project involves comprehensive design, engineering, procurement, construction, testing, commissioning, and operation of grid-connected solar power plants. The project structure provides long-term revenue visibility through a 25-year operational period with Power Purchase Agreement from the Schedule Commercial Operation Date.

Strategic Impact and Management Vision

The subsidiary formation demonstrates Ceigall India's structured approach to executing large-scale renewable energy projects. Chairman Managing Director Ramneek Sehgal had earlier emphasized the project's significance in the company's renewable energy journey, highlighting its contribution to Madhya Pradesh's clean energy goals and India's sustainable infrastructure expansion. The SPV structure enables focused project execution while maintaining regulatory compliance and operational efficiency for the 130 MW solar power initiative.

Ceigall India Limited (ISIN: INE0AG901020) has been awarded a contract worth Rs. 12.185 crore by the Punjab government for a crucial desilting project. This news comes as part of the company's regulatory filing under SEBI's Listing Obligations and Disclosure Requirements (LODR).

Contract Details

Project Significance

The desilting project aims to protect agricultural land in the specified area, potentially benefiting local farmers and the ecosystem. This contract demonstrates Ceigall India's capability in undertaking environmental and infrastructural projects.

Key Terms and Conditions

1. Performance Security: The company is required to provide a performance security amounting to 10% of the total contract value, which calculates to Rs. 1.22 crore.
2. Additional Earnest Money: Ceigall India needs to submit Rs. 3.34 lakh in the form of a Fixed Deposit Receipt (FDR) or Bank Guarantee.
3. Royalty Payment: A royalty of Rs. 5 per cubic foot is payable.
4. Material Usage: De-silted material from the work can be used for filling purposes on Ceigall India's projects.

Implications for Ceigall India

This contract represents an opportunity for Ceigall India to strengthen its position in the infrastructure and environmental services sector. The project's successful completion within the stipulated 180-day timeframe could enhance the company's reputation.

Investors and stakeholders may be interested in how this project impacts Ceigall India's financial performance in the coming quarters. The company's execution of this project may be seen as an indicator of its operational capabilities.