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SEPC Wins Rs650 Cr EPC Contract for 133 MW PM-KUSUM Solar Projects in Maharashtra

SEPC, a solar EPC firm, has received a letter of award from Parmeshi Urja for executing 133 MW of solar projects under Component C of the PM-KUSUM scheme in Maharashtra. The contract, valued at Rs650 crore, marks a significant milestone for SEPC in the agri-solar sector.

The awarded projects, spread across four districts, originate from a tender floated in January 2024 by MSEB Solar Agro Power, a subsidiary of the Maharashtra State Electricity Board Holding Company. Parmeshi Urja, a subsidiary of India Power, secured the project rights in an auction held in September 2024.

Component C of PM-KUSUM focuses on solarizing grid-connected agricultural pumps, offering farmers daytime access to reliable solar power and the opportunity to sell excess electricity. Maharashtra has taken a leadership role in executing this component, bolstered by complementary schemes such as the Mukhyamantri Saur Krishi Vahini Yojana 2.0, aimed at powering rural areas sustainably.

Meanwhile, solar tender issuance in Q1 2025 dropped 53.1% YoY to 14.4 GW, down from 30.7 GW in Q1 2024, though up 5.4% from Q4 2024. Auction activity also saw a decline, with only 6.4 GW auctioned, compared to 10.5 GW in Q4 2024 and 25 GW in Q1 2024. These included standalone solar, hybrid, and solar-plus-storage projects.

Despite the recent downturn in auction activity, the Ministry of New and Renewable Energy (MNRE) continues to aim for 50 GW in annual bidding, including at least 10 GW reserved for wind power, though detailed agency-wise targets for FY25 are still awaited.