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In a significant move towards renewable energy expansion, Dilip Buildcon Limited (DBL) witnessed its shares climb 2.29% to ₹526.25 after announcing that its joint venture, DBL-APMPL (where DBL holds 74% and APMPL 26%), has received a Letter of Acceptance (LoA) from the Madhya Pradesh Jal Nigam (MPJNM).
The project, aimed at developing a 100 MW grid-connected ground-mounted solar PV power plant, will be set up under a captive model to supply power exclusively to MPJNM for 25 years from its commissioning date. This initiative will be developed across Ramnagar and Dhanwada villages in Suwasra tehsil, Mandsaur district — reinforcing Madhya Pradesh’s ongoing commitment to clean energy and sustainable infrastructure.
Under the agreement, MPJNM will invest ₹31.20 crore as equity (or an equivalent instrument), securing a 26% ownership stake in the project company as per regulatory norms. The power generated will be supplied at a rate of ₹2.09 per unit, using non-DCR (Domestic Content Requirement) panels. Around 315 acres of land, essential for the project’s execution, will be provided by MPJNM.
The construction phase is expected to take 24 months, following which the power supply will continue for the next 25 years, marking a long-term partnership for sustainable energy generation.
This development comes as DBL continues to diversify beyond its traditional infrastructure and EPC (Engineering, Procurement, and Construction) business. Known for executing major road and infrastructure projects, the company’s foray into renewable energy underscores its focus on future-ready, eco-conscious ventures.
Financially, the company reported a 93.57% jump in consolidated net profit to ₹271 crore in Q1 FY26, compared to ₹140 crore in Q1 FY25, despite a 16.4% year-on-year decline in revenue to ₹2,620 crore.
With this solar project, Dilip Buildcon not only strengthens its renewable portfolio but also signals a broader industry trend — where infrastructure giants are increasingly pivoting towards sustainable energy to align with India’s green growth goals.