Dilip Buildcon Secures 1363 MW Solar Project from MPUVNL
Filing Summary
Dilip Buildcon Limited has been awarded a contract by Madhya Pradesh Urja Vikas Nigam Limited for a 1363 MW solar project under the PM KUSUM – C scheme. The project involves establishing grid-connected solar PV power plants, with power sold to Madhya Pradesh Power Management Company Limited for 25 years. The contract is valued at approximately Rs. 4900 crores, excluding GST, and will be executed over 18 months. The project will be implemented through multiple Special Purpose Vehicles, providing an EPC business opportunity for Dilip Buildcon.
Dilip Buildcon Limited has been declared the L-1 bidder by Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) for a solar project with a total capacity of 1363.55 MW AC. This project is part of the Feeder Solarization component under the PM KUSUM – C (Surya Mitra Krishi Solarization) initiative. The power generated will be sold to Madhya Pradesh Power Management Company Limited (MPPMCL) under a 25-year Power Purchase Agreement.
The project will be executed through multiple Special Purpose Vehicles (SPVs) and is valued at approximately Rs. 4900 crores (excluding GST). The execution period for the Engineering, Procurement, and Construction (EPC) opportunity is set for 18 months. The contract involves the development, design, engineering, supply, construction, testing, commissioning, operation, and maintenance of grid-connected solar PV power plants.
The terms of the contract are governed by the guidelines of the Ministry of New and Renewable Energy (MNRE) and the regulations of the Madhya Pradesh Electricity Regulatory Commission (MPERC). The project is categorized under the Non-DCR category, indicating that domestic content requirements are not applicable.
The trading window for dealing in the securities of Dilip Buildcon is closed for insiders and designated persons until 48 hours after the public disclosure of this information, in compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
Madhya Pradesh Urja Vikas Nigam Limited is responsible for implementing renewable energy projects in the state of Madhya Pradesh. It operates under the guidance of the state government and focuses on promoting solar energy initiatives.
Dilip Buildcon Limited is engaged in infrastructure development across India, with a focus on roads, bridges, and power projects. The company is expanding its portfolio in the renewable energy sector, aligning with national energy goals.