PVV Infra to Invest INR 107 Crore in 28 MW Solar Project in Maharashtra

PVV Infra Ltd. has announced a strategic entry into the renewable energy sector with a INR 107.70 crore investment in a 28 MW (AC) solar power project in Maharashtra. The project will operate under a long-term power purchase agreement (PPA) with the Maharashtra State Electricity Distribution Company Ltd. (MSEDCL), providing the company with stable revenues and predictable cash flows.

According to a disclosure made to the Bombay Stock Exchange, PVV Infra has signed a Letter of Intent with Aqua Dynamic Green Energy Pvt. Ltd. to acquire a 49 percent equity stake in the venture. The company plans to scale up to full ownership after the lock-in period, with the entire project being financed by PVV Infra itself.

The solar capacity will be spread across four sites in the Buldhana district of Maharashtra,10 MW at Dasarkhed in Malkapur, 5 MW at Fuly in Nandura, 5 MW at Harsoda in Malkapur, and 8 MW at Kinhola in Motala. Land acquisition, substation connectivity and statutory approvals have already been secured, and execution work is underway. Commercial operations are targeted for FY 2026–27.

The project is expected to generate enough clean electricity to power nearly 45,000 households every year while reducing carbon emissions by around 65,000 tonnes annually. PVV Infra said the investment strengthens its environmental, social and governance (ESG) profile while ensuring long-term shareholder value.

The company added that the venture will be earnings-accretive from the first full year of operations. With the backing of a secure 25-year PPA framework, PVV Infra believes the project provides a strong foundation to expand its renewable energy portfolio. The company has laid out a roadmap to scale its clean energy capacity beyond 100 MW over the next three years, marking a significant diversification from its existing business operations.