Mumbai, Aug. 28 -- Maharashtra State Electricity Distribution Company Limited (MSEDCL) has awarded letters of award to Insolation Green Energy Private Limited, a wholly owned subsidiary of Insolation Energy Limited, for nine solar projects with a combined capacity of 99 megawatt (MW) alternating current and 128.7 MW direct current. The projects fall under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 and will be developed at multiple locations across Maharashtra. Insolation Green Energy will act as the developer for the sites.
The projects have been awarded at a levelised tariff of Rs two point nine per kWh and will operate under 25-year power purchase agreements (PPAs). The PPAs require commissioning within 18 months of execution and are intended to underpin project financing and long term revenue visibility. The company has indicated that the projects will require an investment of approximately Rs four point two five billion (bn).
Insolation Green Energy expects the projects to generate annual revenue of approximately Rs 597.2 million (mn) once fully operational. In July 2026 the company secured a contract worth Rs five point five eight billion (bn) from NTPC Renewable Energy Limited for the supply of solar modules, a deal that the company said will support manufacturing and supply chain planning. The recent awards expand the company's pipeline and broaden its presence in the state.
MSEDCL's allocation reflects ongoing procurement under its state scheme and forms part of broader efforts to add solar capacity at grid scale. The projects are structured to deliver electricity under long duration contracts and to leverage module supply arrangements already secured by the developer. Insolation Energy will proceed to finalise project documents and mobilise resources for construction and commissioning.
Published by HT Digital Content Services with permission from Construction World.