Insolation Green Energy, a wholly owned subsidiary of Insolation Energy, has received Letters of Award (LoAs) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up nine solar power projects with a combined generation capacity of 99 MW AC (128.7 MW DC) across Maharashtra.
The projects have been awarded under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0, Maharashtra’s initiative aimed at expanding decentralised solar power generation and supplying renewable electricity to the agricultural sector.
Nine Solar Projects to Be Developed Across Maharashtra
The LoAs were issued following a tariff-based competitive bidding process conducted by MSEDCL for the development of grid-connected solar power projects at multiple locations across the state.
Once implemented, the nine projects, through their respective special purpose vehicles (SPVs), will collectively provide 99 MW of AC capacity, equivalent to 128.7 MW of DC capacity.
The projects are expected to contribute to Maharashtra’s renewable energy capacity while supporting the state’s efforts to increase the availability of solar power for agricultural consumers.
Projects to Generate ₹59.72 Crore Annual Revenue
A key financial aspect of the award is the finalized levelized tariff of ₹2.90 per unit across all nine project sites.
Based on the awarded tariff and expected generation, the projects are estimated to generate approximately ₹59.72 crore in annual revenue once operational.
The company expects the projects to provide a stable revenue stream over their 25-year operational life, strengthening Insolation Green Energy’s long-term renewable energy portfolio.
Boost to Maharashtra’s Solar Infrastructure
The projects form part of Maharashtra’s broader push to expand grid-connected solar generation under Mukhyamantri Saur Krushi Vahini Yojana 2.0.
The scheme is focused on developing solar power capacity closer to electricity distribution infrastructure and agricultural demand centres, helping increase the use of renewable energy in the state’s power system.
For Insolation Green Energy, the latest LoAs represent a significant addition to its project pipeline and expand its presence in utility-scale solar power development.
Long-Term Renewable Energy Opportunity
With 128.7 MW of DC solar capacity to be installed across nine projects, the award gives Insolation Green Energy a substantial opportunity to expand its utility-scale renewable energy operations.
The combination of a 25-year project life, contracted tariff and estimated annual revenue of nearly ₹60 crore provides the company with visibility into long-term cash flows, while the projects will also add to Maharashtra’s growing solar generation capacity.
The latest order highlights the increasing role of competitive bidding and decentralised solar projects in India’s renewable energy expansion, particularly in supporting the country’s agricultural power requirements.
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