Insolation Energy Wins ₹425 Crore MSEDCL Solar Projects for 99 MW Capacity; ₹59.72 Crore Annual Revenue Expected
Insolation Energy Limited has announced a major order win in Maharashtra after its wholly owned subsidiary, Insolation Green Energy Private Limited, received Letters of Award (LOAs) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up nine solar power projects.
The projects have a combined capacity of 99 MW AC (128.7 MW DC) and are being developed under the Mukhyamantri Saur Krushi Vahini Yojana – 2.0.
According to the company, the projects are expected to generate approximately ₹59.72 crore in annual revenue over the 25-year operational period.
9 Solar Projects Awarded by MSEDCL
The LOAs were awarded through a tariff-based competitive bidding process conducted by MSEDCL for establishing grid-connected solar power projects at multiple locations across Maharashtra.
The nine projects will involve decentralized, ground-mounted solar power plants.
Once implemented, the combined installed capacity will be:
- Number of projects: 9
- Capacity: 99 MW AC
- DC capacity: 128.7 MW DC
- Tariff: ₹2.90 per unit
- Power Purchase Agreement: 25 years
- Estimated annual electricity generation: 20.59 crore units
- Estimated annual revenue: ₹59.72 crore
₹425 Crore Investment Planned
The overall project is expected to involve an investment of approximately ₹425 crore, including GST, for establishing the 128.70 MW DC solar power plants.
The projects are to be commissioned within 18 months from the date of execution of the respective Power Purchase Agreements (PPAs).
Following commissioning, the subsidiary will be responsible for operating and maintaining the solar power projects and supplying electricity under the long-term PPAs.
₹59.72 Crore Annual Revenue at ₹2.90 Per Unit
The company has disclosed a finalized levelized tariff of ₹2.90 per kWh across all nine project sites.
The projects are expected to generate approximately 20.59 crore units of electricity annually.
Based on the disclosed tariff and generation assumptions, the expected annual revenue is approximately:
₹59.72 crore per year
The company expects this to provide a relatively predictable revenue stream throughout the projects’ 25-year operational period, subject to the terms and performance of the PPAs.
Project Capacity: 99 MW AC / 128.7 MW DC
The distinction between AC and DC capacity is important when evaluating the size of the project.
The nine solar plants will have a combined:
99 MW AC capacity
and
128.7 MW DC capacity.
The higher DC capacity reflects the installed capacity of the solar modules, while the AC figure represents the power generation capacity delivered through the project’s electrical infrastructure.
Projects Under Mukhyamantri Saur Krushi Vahini Yojana 2.0
The projects are being developed under the Mukhyamantri Saur Krushi Vahini Yojana – 2.0, a Maharashtra initiative focused on increasing the availability of solar power for agricultural electricity requirements.
The decentralized nature of the projects means that the solar plants will be established at multiple locations rather than at a single large solar park.
For Insolation Energy, the order expands its exposure to utility-scale solar power generation and long-term renewable energy projects.
Key Order Details
The major terms disclosed by Insolation Energy include:
Awarding entity: Maharashtra State Electricity Distribution Company Limited (MSEDCL)
Executing entity: Insolation Green Energy Private Limited, a wholly owned subsidiary of Insolation Energy Limited
Number of projects: 9
Total capacity: 99 MW AC / 128.7 MW DC
Project investment: Approximately ₹425 crore including GST
Tariff: ₹2.90 per unit
Annual generation: Approximately 20.59 crore kWh
Expected annual revenue: Approximately ₹59.72 crore
PPA tenure: 25 years
Commissioning timeline: Within 18 months from execution of the PPA
Project location: Multiple locations across Maharashtra
No Related Party Transaction
Insolation Energy stated that the promoter or promoter group does not have any interest in MSEDCL, the entity awarding the contracts.
The company also confirmed that the orders do not constitute related party transactions.
Investor Takeaway
The MSEDCL order is significant for Insolation Energy because it combines a substantial 128.7 MW DC project pipeline with long-term PPAs extending for 25 years.
The approximately ₹425 crore project investment represents a sizeable commitment, while the company expects the completed projects to generate approximately ₹59.72 crore of annual revenue based on the disclosed tariff and generation assumptions.
For investors, the key factors to monitor will be the execution of the nine projects within the 18-month commissioning timeline, the company’s ability to fund the planned investment, project commissioning progress, and the subsequent performance of the long-term PPAs.
The order also strengthens Insolation Energy’s presence in Maharashtra’s renewable energy market and provides visibility into a long-duration solar power generation business.
Disclosure: This article is based on Insolation Energy Limited’s stock exchange disclosure dated August 24, 2026. The project remains subject to execution of the applicable PPAs and other contractual conditions. Investors should review the company’s official filings before making investment decisions.