Insolation Energy Limited (INA Solar), through its wholly owned subsidiary Insolation Green Energy Private Limited, has secured a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the development of nine decentralised ground-mounted solar power projects across Maharashtra.
The projects have a combined capacity of 99 MW AC, equivalent to 128.7 MW DC, and have been awarded under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 through a competitive tariff-based bidding process.
The company plans an estimated investment of around ₹425 crore for developing the solar portfolio. Based on the finalised levelised tariff of ₹2.90 per kWh, the projects are expected to generate approximately ₹59.72 crore in annual revenue under a 25-year Power Purchase Agreement (PPA) with MSEDCL.
Once operational, the nine solar projects are projected to generate around 20.59 crore units of clean electricity annually. The entire 99 MW portfolio is scheduled to be commissioned within 18 months from the execution of the PPAs, strengthening INA Solar’s presence in Maharashtra’s growing decentralised renewable energy sector.
Key Highlights
- 99 MW AC / 128.7 MW DC solar capacity secured
- 9 decentralised ground-mounted solar projects across Maharashtra
- Awarded by MSEDCL
- Estimated investment of ₹425 crore
- Tariff finalised at ₹2.90 per kWh
- Expected annual revenue of approximately ₹59.72 crore
- 25-year PPA framework
- Full commissioning targeted within 18 months of PPA execution
