Shares of Ceigall India Ltd rallied more than 4% on 6 October after the company announced securing two solar plant building orders totalling Rs 1,309 crore from Maharashtra State Electricity Distribution business.

The company received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Co. for a solar power developer (SPD) for solar photovoltaic power generating stations with an aggregate capacity of 147 MW (AC) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 Scheme, for the establishment of grid-connected solar power projects in two districts of Maharashtra.

The project’s EPC cost is Rs 597 crore, which includes operating, maintaining, and supplying power for 25 years under a long-term PPA.

Moreover, the company has also received a letter of authorisation from Maharashtra State Electricity Distribution Co for SPD for solar photovoltaic power generating stations with an aggregate capacity of 190 MW (AC) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 Scheme, to establish grid-connected solar power projects in four districts of Maharashtra. The EPC cost is R. 712.16, which includes operating, maintaining, and supplying power for 25 years under a long-term PPA.

Earlier, on 30 September, the company received a Letter of Intent (9LoI) from Himachal Pradesh State Industrial Building Corporation Limited (HPSIDC) for the building of a bulk medicine park in Una District for Rs 225 crore.

At 12:40 pm, the shares of Ceigall India were trading 2.30% lower at Rs 266.60 on NSE.

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