Solar engineering, procurement, and construction (EPC) firm SEPC received a letter of award from Parmeshi Urja for the EPC of 133 MW of solar projects under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program in Maharashtra.

The contract value for the works is ₹6.5 billion (~$76 million).

In September 2024, Parmeshi Urja, a subsidiary of India Power, won the auction to develop the same 133 MW project across four districts in Maharashtra. The project originated from a tender floated by MSEB Solar Agro Power, a wholly owned subsidiary of the Maharashtra State Electricity Board Holding Company, in January 2024.

Maharashtra has emerged as a leader in implementing the PM-KUSUM Component C program, which focuses on solarizing grid-connected agricultural pumps. This initiative aims to benefit farmers by providing access to reliable daytime solar energy and increasing their income by allowing them to sell surplus power.

This momentum is further driven by state-led initiatives, such as the Mukhyamantri Saur Krishi Vahini Yojana 2.0, which is designed to meet the increasing energy demand in rural Maharashtra through solar power.

In Q1 2025, government agencies issued approximately 14.4 GW of solar tenders, representing a 53.1% decline from 30.7 GW in Q1 2024, although this still represents a 5.4% improvement over Q4 2024. The Ministry of New and Renewable Energy has maintained an ambitious annual bidding target of 50 GW for renewable projects, including a minimum of 10 GW earmarked for wind power. However, specific agency-level targets for the current financial year remain pending.

Auction activity has also seen a downturn, with only 6.4 GW auctioned in Q1 2025, down from 10.5 GW in the previous quarter and a significant drop from 25 GW in Q1 2024. These auctions encompassed standalone solar, solar-plus-storage, and wind-solar hybrid projects.

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