Dilip Buildcon Secures 1363 MW Solar Project from MPUVNL
Filing Summary
Dilip Buildcon Ltd has received a letter of award from Madhya Pradesh Urja Vikas Nigam Limited for a solar project with a total capacity of 1363.55 MW AC. The project involves establishing grid-connected Solar PV-based power plants under the PM KUSUM-C scheme. The power generated will be sold to Madhya Pradesh Power Management Company Limited for 25 years. Dilip Buildcon will execute an EPC business opportunity valued at approximately Rs. 4900 crores over the next 18 months. The project will be implemented through multiple Special Purpose Vehicles.
Dilip Buildcon Ltd has received a letter of award from Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) for a solar project with a total capacity of 1363.55 MW AC. This project falls under the Non-DCR category and involves the establishment of grid-connected Solar PV-based power plants. The initiative is part of the Feeder Solarization component of the PM KUSUM-C (Surya Mitra Krishi Solarization) scheme.
The power generated from this project will be sold to Madhya Pradesh Power Management Company Limited (MPPMCL) under a competitive tariff-based Power Purchase Agreement (PPA). The agreement is governed by the guidelines of the Ministry of New and Renewable Energy (MNRE), MPERC regulations, and the Model PPA. The contract specifies a 25-year duration from the Scheduled Commercial Operation Date (SCOD).
Dilip Buildcon will secure an Engineering, Procurement, and Construction (EPC) business opportunity valued at approximately Rs. 4900 crores, excluding GST. The execution of this project is planned over the next 18 months and will be carried out through multiple Special Purpose Vehicles (SPVs).
The filing also notes that the trading window for dealing in the securities of Dilip Buildcon will remain closed for insiders and connected persons until 48 hours after the information is made public. This is in accordance with the company’s code of conduct and 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. The organization focuses on promoting solar energy initiatives and works under the guidance of the state government to enhance energy sustainability.
Dilip Buildcon Ltd is a leading infrastructure development company in India, focusing on the construction of roads, bridges, and power projects. The company is committed to expanding its presence in the renewable energy sector through strategic projects and partnerships.