Bondada acquires 60% in solar project SPV in Maharashtra
OIPL has been established for implementation of the 225 MW project as an IPP under Mukhyamantri Saur Krushi Vahini Yojana 2.0, under Component C of the PM-KUSUM Scheme in Maharashtra. It has a power purchase agreement with Maharashtra State Electricity Distribution Company (MSEDCL) for a period of 25 years with estimated annual revenue of around ₹150.48 crore, Bondada said.
- ▪OIPL has been established for implementation of the 225 MW project as an IPP under Mukhyamantri Saur Krushi Vahini Yojana 2.0, under Component C of the PM-KUSUM Scheme in Maharashtra.
- ▪It has a power purchase agreement with Maharashtra State Electricity Distribution Company (MSEDCL) for a period of 25 years with estimated annual revenue of around ₹150.48 crore, Bondada said.
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| Publication time | Mon, 27 Jul 2026 23:09:47 +0530 |
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Opening excerpt (first ~120 words) tap to expand
Bondada Engineering has acquired 60% stake in Onix IPP (OIPL), a special purpose vehicle implementing a 225 MW (AC) solar photovoltaic power project in Maharashtra under a government scheme.The acquisition aligns with Bondada Group’s plans to diversify beyond EPC (engineering, procurement and construction) execution into renewable energy asset ownership and creation thus generating predictable annuity-based revenues and complementing its annuity income from Battery Energy Storage System (BESS) assets.The stake provides the company a controlling interest in one of Maharashtra’s key agricultural feeder solarisation projects.
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