Insolation Green Energy Secures Letter of Award for 99 MW Solar Project from MSEDCL

en.Wedoany.com Reported - On August 24, Insolation Green Energy, a wholly-owned subsidiary of Insolation Energy, received Letters of Award (LoA) for nine solar projects issued by Maharashtra State Electricity Distribution Company Limited (MSEDCL), with a combined capacity of 99 MWac (AC side) / 128.7 MWdc (DC side).

The nine projects are located across multiple sites in Maharashtra and fall under the state's flagship distributed solar scheme, Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0). MSKVY 2.0 aims to promote distributed solar power generation and provide renewable electricity to agricultural consumers. The Maharashtra Electricity Regulatory Commission had previously approved MSEDCL's procurement of 2,269 MW of distributed solar power through competitive bidding.

This award was completed through competitive tariff-based bidding. The levelized tariff for the nine projects is INR 2.90/kWh, with power purchase agreements (PPAs) to be signed for a period of 25 years. The total project investment is approximately INR 4.25 billion (including GST), with commissioning scheduled within 18 months of PPA signing. Upon operation, the projects are expected to generate approximately 205.9 million kWh annually, bringing Insolation Green Energy an estimated annual revenue of around INR 597.2 million.

Insolation Green Energy is a wholly-owned subsidiary of Insolation Energy Limited. Headquartered in Jaipur, Rajasthan, Insolation Energy is an Indian solar module manufacturer. In July 2026, the company had secured a solar module supply contract worth INR 5.58 billion from NTPC Renewable Energy.

Upon commissioning, the projects will be integrated into the Maharashtra state transmission grid and supply power to MSEDCL under the 25-year PPAs.