Insolation Energy wins 99 MW AC solar projects from MSEDCL
Insolation Energy Limited, through its wholly-owned subsidiary Insolation Green Energy Private Limited, has received a Letter of Award (LOA) from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) for nine grid-connected solar power projects with an aggregate capacity of 99 MW AC (128.7 MW DC) in Maharashtra.
The projects were awarded under the Mukhyamantri Saur Krushi Vahini Yojana – 2.0 following a tariff-based competitive bidding process conducted by MSEDCL. The projects are spread across multiple territories within the state.
Tariff and contract
The nine projects have a finalized levelized tariff of Rs 2.90 per unit. They will operate under a 25-year contract, with the projects expected to generate approximately Rs 59.72 crore in annual revenue.
The long-term contract provides a defined revenue framework for the projects and reduces their exposure to short-term changes in power market prices.
Agricultural supply
The Mukhyamantri Saur Krushi Vahini Yojana is a Maharashtra government initiative aimed at providing reliable daytime solar power to agricultural feeders. The projects awarded to Insolation Energy will add solar generation capacity for this purpose while expanding the company’s utility-scale renewable energy portfolio in the state.
The LOA adds to the company’s presence in Maharashtra’s solar procurement market, covering both decentralized and utility-scale renewable energy requirements.
The featured photograph is for representation only.
