According to the latest exchange filing, Ceigall India announced that its wholly owned subsidiary, Ceigall Green Energy MH2 Limited, has successfully commissioned another 5 MW solar power plant at Ranjangaon Deshmukh, Mulshi Taluka, Pune district, Maharashtra. The commissioned capacity is connected to the 33/11 kV Ranjangaon substation of the Maharashtra State Electricity Distribution Co. (MSEDCL), with the power being supplied to MSEDCL. As per the exchange filing, the latest commissioning was completed through Ceigall Green Energy MH2 Limited at Ranjangaon Deshmukh in Mulshi Taluka, Pune district, Maharashtra. The commissioning follows the completion of the first 5 MW unit, which was commissioned ahead of schedule, thereby making the project eligible for an early-commissioning incentive under MSKVY 2.0. The company has stated that the completion of the first unit has been ahead of the schedule, thus entitling the project to an early-commissioning incentive under the MSKVY 2.0 program, with the new 5 MW capacity addition also completed ahead of the original date.
With this latest commissioning, the WOS's operational solar capacity at the site now stands at 10 MW, representing a doubling of the subsidiary's operational output at this specific site from 5 MW to 10 MW. The first 5 MW unit was completed well ahead of its scheduled timeline and made the project eligible for the early-commissioning incentive under MSKVY 2.0. This operational capacity forms part of the aggregate 147 MW solar power project being developed and executed by Ceigall Green Energy MH2 Limited under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0), a Government of Maharashtra scheme. According to the exchange filing, the 10 MW commissioned capacity is connected to Maharashtra State Electricity Distribution Company Limited's (MSEDCL) 33/11 kV Ranjangaon substation, and the electricity generated by the project is supplied to MSEDCL. The commissioning of the second 5 MW unit doubles the subsidiary's operational output at this specific site, representing only a small fraction (6.8%) of the total 147 MW project size, but the dual-unit completion allows the project to tap into early-commissioning incentives under the MSKVY 2.0 framework, potentially improving near-term cash flows relative to the scheduled timeline.
According to market data from HDFC SKY, Ceigall India shares were trading at ₹375.50 as of 3:00 PM IST on September 22, 2026, down ₹4.45 or 1.17% from the previous close. The stock declined through much of the morning session, touching levels below ₹370 before recovering sharply after 12:30 PM. It moved towards ₹377 during the afternoon before easing to ₹375.50 at the latest quoted time. The share price decline occurred despite the company's disclosure of additional commissioned solar capacity in Maharashtra, indicating that market sentiment may have been influenced by other factors. The company has a market capitalization of ₹6,571.88 crore and is an infrastructure engineering, procurement and construction company involved in highways, expressways, bridges, flyovers, railway overbridges, tunnels and runways. The company executes projects under EPC and Hybrid Annuity Model formats and has been expanding into renewable energy, with its renewable energy portfolio including utility-scale solar and Battery Energy Storage System projects.
According to the exchange filing, the MSKVY 2.0 scheme is aimed at strengthening decentralised, daytime solar power supply to agricultural feeders across the state. The project involves several locations of Maharashtra and is, thus, in line with the company's expansion into renewable energies. The Maharashtra government scheme is aimed at strengthening decentralised daytime solar power supply to agricultural feeders across the state. The company has earlier secured the Letter of Award relating to the implementation of 147 MW solar photovoltaic power schemes, with this commissioning representing an advancement in the transformation of the received renewable capacities into operational capacities. As per the exchange filing, Ceigall India stated that the commissioning of the latest 5 MW capacity further strengthens its presence in the renewable energy sector. Ramneek Sehgal, Chairman & Managing Director of Ceigall India Ltd, stated that the commissioning reflects the company's execution capabilities and its focus on scaling its renewable energy presence in Maharashtra. The timely execution reflects the company's strong discipline in project delivery, with the scaling up presence in the renewable energy space reinforcing the commitment to supporting Maharashtra's clean energy goals while building a diversified infrastructure portfolio.
