Bhagyanagar India Secures LOA for 53 MW Solar Project in Maharashtra
The project secured by Bhagyanagar India is sanctioned by MSEDCL and involves an estimated investment of INR 245 crore.
February 26, 2025. By Abha Rustagi
"We are delighted to announce that Bhagyanagar India Limited has been awarded LOA of a total allotted capacity of 53 MW of Solar Power Generator (SPG) under Mukhyamantri Saur Krushi Vahini Yojana 2.0- a scheme launched for the implementation of feeder level solarisation under Component C of PM- KUSUM Scheme," the company said in a regulatory filing.
The project is sanctioned by Maharashtra State Electricity Distribution Company Limited (MSEDCL) and involves an estimated investment of INR 245 crore.
BIL will supply solar power at a tariff of INR 3.09 per kWh, with a central financial assistance (CFA) subsidy of INR 1.05 crore per MW under the agreement. The project is slated to be operational within 18 months and will have a lifespan of 25 years.
BIL is one of India's oldest and largest copper product manufacturers. A multigenerational business run by the Surana family, the company is known for its quality and reliability. The company produces a range of copper products, including rods, strips, pipes, busbars, and sheets, serving primarily Original Equipment Manufacturers (OEMs).
Over the years, it has expanded into telecom, solar products, and real estate. The company also entered the renewable energy sector with a 9 MW wind power project in Karnataka.
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