Bondada Engineering Limited has received a major order from NTPC Green Energy Limited (NGEL) for executing Balance of System (BOS) works for a 600 MW Solar PV Project at Fatehgarh in Rajasthan.

The company disclosed the development through a regulatory filing submitted to the stock exchanges on May 08, 2026.

The order further strengthens Bondada Engineering’s position in the renewable energy and solar EPC sector while improving medium-term growth visibility.

Details Of The Order

According to the company, the project involves BOS works for:

• Block 1
• Block 3

of the 600 MW Solar PV project located at Fatehgarh, Rajasthan.

The project will be executed under the:

• Engineering
• Procurement
• Construction (EPC)

model.

The contract also includes:

• Operations and Maintenance (O&M) services for 3 years

Order Value

The total value of the order stands at approximately:

• ₹816.01 crore

The company stated that the project is expected to contribute significantly to future revenues and profitability during the execution phase.

Execution Timeline

Bondada Engineering informed that the project is scheduled to be completed within:

• 16 months from receipt of Notification of Award (NOA)

The execution timeline is expected to support revenue visibility over the coming quarters.

Scope Of Work

The scope of the project includes:

• Design and engineering
• Site development
• Manufacturing
• Inspection
• Supply and transportation
• Storage
• Erection and installation
• Testing and commissioning

The project relates to setting up a large-scale solar power infrastructure facility.

Second Order From NTPC Group

The company highlighted that this is the:

• Second order received from the NTPC Group

Following this latest contract, Bondada Engineering’s cumulative order inflow from NTPC Group has reached approximately:

• ₹1,207 crore

The total cumulative project capacity is now nearing:

• 1 GW

The repeat order reflects continued confidence from the customer in the company’s execution capabilities and operational performance.

Solar EPC Order Book Expands

With the addition of this latest project, Bondada Engineering stated that its total Solar EPC order book has increased to approximately:

• 5.3 GWp

The growing order book provides strong execution momentum and long-term business visibility.

Focus On Renewable Energy Sector

The order strengthens the company’s presence in the renewable energy segment, particularly in:

• Solar EPC projects
• Utility-scale solar infrastructure
• Government and PSU contracts

India’s renewable energy sector has been witnessing rapid expansion due to increasing clean energy targets and rising investments in solar power infrastructure.

Importance Of Solar EPC Business

Solar EPC companies are responsible for:

• Project design
• Equipment procurement
• Installation
• Commissioning
• Maintenance support

Large solar EPC projects are important for expanding renewable energy capacity and supporting India’s energy transition goals.

Bondada Engineering’s Growing Presence

Bondada Engineering has been expanding its presence in infrastructure and renewable energy sectors through large project wins.

The company stated that its operational capacity and execution capabilities have improved significantly, enabling it to secure and execute large-scale projects.

The latest NTPC Green Energy order further deepens the company’s relationship with marquee PSU clients.

Rajasthan Emerging As Solar Hub

Rajasthan continues to emerge as one of India’s largest solar power hubs because of:

• High solar radiation
• Large land availability
• Government support for renewable energy

Several large utility-scale solar projects are being developed in the state by both public and private sector companies.

Renewable Energy Sector Growth In India

India has been aggressively increasing renewable energy capacity to reduce dependence on fossil fuels and meet climate commitments.

Key growth drivers include:

• Government renewable energy targets
• PSU investments
• Private sector participation
• Solar manufacturing expansion
• Green energy financing

The sector has attracted strong investment activity in recent years.

No Related Party Interest

Bondada Engineering clarified in its filing that:

• The order has been awarded by a domestic entity
• Promoters or promoter group entities have no interest in the awarding company
• The transaction does not fall under related party transactions

Impact On Revenue Visibility

Large EPC orders typically provide:

• Stable execution pipeline
• Revenue visibility
• Cash flow support
• Long-term operational opportunities

The additional O&M component also provides recurring revenue potential beyond project commissioning.

Investor Focus On Renewable Energy Companies

Renewable energy companies and EPC players continue to attract investor interest because of:

• India’s green energy transition
• Rising solar project pipeline
• Strong government support
• Infrastructure spending growth

Companies with strong execution records and expanding order books are being closely tracked by the market.

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