Bhagyanagar India Secures 53 MW Solar Power Project Worth ₹245 Crores

Hyderabad, February 25, 2025: Bhagyanagar India Limited (BIL) has been awarded a Letter of Award (LOA) for a 53 MW Solar Power Project under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, a scheme initiated under Component C of the PM-KUSUM Scheme. The award has been granted by Maharashtra State Electricity Distribution Company Limited (MSEDCL), a Government of Maharashtra undertaking. The project involves an estimated investment of ₹245 Crores and will be located in Maharashtra.

Project & Contract Details

✔ Awarding Entity: Maharashtra State Electricity Distribution Company Limited (MSEDCL)
✔ Project Size & Cost: 53 MW (AC) | ₹245 Crores Investment
✔ Tariff Structure: ₹3.09/KWh with ₹1.05 Crore per MW subsidy from the Government of India (CFA)
✔ Project Timeline: To be completed within 18 months from LOA
✔ Contract Duration: 25-year agreement with MSEDCL
✔ Purpose: Feeder-level solarization under Mukhyamantri Saur Krushi Vahini Yojana 2.0
✔ Promoter Involvement: No involvement from the promoter group in awarding the contract
✔ Related Party Transactions: Not applicable

Strategic Importance of the Project

The project aligns with Bhagyanagar India’s commitment to expanding its renewable energy portfolio and supporting India’s clean energy mission. The PM-KUSUM Scheme’s Component C aims to drive solar energy adoption at the grassroots level, ensuring sustainable energy solutions for agricultural communities.

Devendra Surana, Managing Director of Bhagyanagar India Limited, stated:
“We are delighted to secure this significant project under the PM-KUSUM Scheme. This reaffirms our dedication to renewable energy expansion and strengthens our footprint in the solar power sector. The project will contribute to Maharashtra’s clean energy goals and support sustainable rural electrification.”

Implications for Bhagyanagar India & the Solar Sector

• Strengthens Bhagyanagar India’s role in India's renewable energy landscape.

• Enhances Maharashtra’s solar energy capacity, supporting agricultural electrification.

• Boosts investor confidence in Bhagyanagar India’s expansion in the clean energy sector.

About Bhagyanagar India Limited

Bhagyanagar India Limited is a leading player in renewable energy, copper products, and infrastructure solutions. The company continues to expand its presence in solar power generation, aligning with India’s sustainability goals.

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