Bondada Engineering Secures ₹575 Crore Solar Project in Maharashtra

Bondada Engineering Limited has announced a significant achievement with the receipt of a Letter of Award (LoA) for a substantial solar power project. The award has been granted by three companies: Lumina Clean Energy Private Limited, Purelight Energy Private Limited, and VVKR Photovoltaics Energy Private Limited. These companies are special purpose vehicles (SPVs) established by Paradigm IT Technologies Pvt Ltd and Metalcraft Forming Industries Pvt Ltd, both of which are software companies based in India.

The awarded project involves the design, survey, supply, installation, testing, and commissioning of grid-connected distributed solar power plants. These plants are part of the solarisation initiative for selected agricultural feeders at the Sub-station (SS) level within the Maharashtra State Electricity Distribution Company Limited (MSEDCL) jurisdiction. The project also includes the installation of associated 11 kV lines to connect the solar power plants to the concerned SS, as well as the implementation of a Remote Monitoring System (RMS) to oversee the operation of these solar plants.

This project falls under the PM-KUSUM scheme, specifically the Mukhyamantri Saur Krushi Vahini Yojana 2.0, which aims to promote solar energy usage in agriculture across various districts in Maharashtra. The overall capacity of the solar power plants to be installed is 170.40 MW on a direct current (DC) basis, making it a significant contribution to the state’s renewable energy goals.

The total value of the contract awarded to Bondada Engineering Limited is ₹575.74 crore, inclusive of GST. This project not only highlights the company’s capability to execute large-scale renewable energy projects but also aligns with India’s broader commitment to expanding its renewable energy infrastructure. The project will play a crucial role in enhancing the energy sustainability of agricultural operations in Maharashtra, benefiting both the environment and the local farming communities.

On August 27, 2024, the share price of Bondada Engineering Ltd opened at ₹3,684.45, touching the day’s high at ₹3,684.45, as of 9:45 AM on the BSE.

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