Monte Carlo Fashions Secures 35 MW Solar Project from MPUVNL
Filing Summary
Monte Carlo Fashions Ltd has received a Multiple Letter of Award from Madhya Pradesh Urja Vikas Nigam Limited for solar photovoltaic power plants. The project involves setting up grid-connected solar power projects with an aggregate capacity of 35 MW under the Surya Mitra Krishi Feeders Scheme – PM KUSUM-C. The project includes a 25-year tariff-based Power Purchase Agreement. The estimated EPC cost is approximately INR 3147 Crore, including GST. The execution period is 18 months, followed by a 25-year operational period. This project does not involve related party transactions.
Monte Carlo Fashions Ltd has announced the receipt of a Multiple Letter of Award from Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) for the development of solar photovoltaic power generating stations. The project is part of the Surya Mitra Krishi Feeders Scheme – PM KUSUM-C and involves an aggregate capacity of 35 MW (AC). The awards were issued on December 23, 2025.
The project will be executed under a tariff-based Power Purchase Agreement (PPA) with a duration of 25 years from the scheduled commercial operation date. The total estimated Engineering, Procurement, and Construction (EPC) cost for the project is approximately INR 3147 Crore, inclusive of GST. The execution of the project is expected to be completed within 18 months, followed by a 25-year operational period.
The contract awarded by MPUVNL is domestic, and there is no involvement of related party transactions. Additionally, the promoter or promoter group of Monte Carlo Fashions Ltd does not have any interest in the awarding entity.
Madhya Pradesh Urja Vikas Nigam Limited is a state-owned entity responsible for the implementation of renewable energy projects in Madhya Pradesh. It focuses on promoting sustainable energy solutions and enhancing the state’s renewable energy capacity.
Monte Carlo Fashions Ltd is engaged in the business of manufacturing and retailing branded apparel. The company is expanding its portfolio by venturing into renewable energy projects, aligning with its strategic priorities to diversify its business operations.