Bondada Engineering Wins ₹816 Cr NTPC Solar Project in Rajasthan

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AuthorAarav Shah|Published at:
Bondada Engineering Wins ₹816 Cr NTPC Solar Project in Rajasthan
Overview

Bondada Engineering has secured a major order worth ₹816.01 crore from NTPC Green Energy Limited for Balance of System component works on a 600 MW solar project in Rajasthan. The contract includes a 3-year operations and maintenance component, significantly enhancing the company's order backlog and standing in the renewable energy market.

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Bondada Engineering Secures ₹816 Crore NTPC Solar Project in Rajasthan

Bondada Engineering Limited announced it has received a Notification of Award (NOA) from NTPC Green Energy Limited (NGEL) for Balance of System component works on a 600 MW Solar PV Project. The project is located in Fatehgarh, Rajasthan.

The contract is valued at approximately ₹816.01 crore and includes a three-year Operations & Maintenance (O&M) component. Project execution is scheduled to take 16 months from the NOA date of May 8, 2026.

Significance of the Award

This significant order win bolsters Bondada Engineering's position in the competitive solar Engineering, Procurement, and Construction (EPC) market. It demonstrates the company's capability to secure contracts from major public sector clients like NTPC.

The award substantially enhances the company's medium-term revenue visibility and adds considerable capacity to its total solar EPC order book, pushing it to around 5.3 GWp. It also deepens the company's relationship with NTPC, a key client in the renewable energy sector.

About Bondada Engineering

Bondada Engineering Ltd is an India-based company specializing in solar photovoltaic (PV) engineering, procurement, and construction (EPC) services. The company offers comprehensive EPC services for solar power projects, covering site selection, design, procurement, construction, installation, and commissioning. Bondada Engineering also provides essential Operation and Maintenance (O&M) services for solar power plants.

Key Risks

Investors will monitor the project execution timeline, aiming for completion within the 16-month period for the 600 MW project. Managing the three-year O&M component effectively and profitably will also be crucial. Potential delays or cost overruns, which can occur in large EPC projects, are factors to watch.

Competitive Landscape

Major players in the Indian solar EPC sector include Sterling and Wilson Renewable Energy, Tata Power Solar, and L&T's renewable energy division. These competitors also have substantial order books and extensive experience in executing large-scale solar projects.

Key Figures

  • The company's total solar EPC order book has reached approximately 5.3 GWp as of May 2026.
  • Cumulative order inflow from the NTPC Group now stands at approximately ₹1,207 Crore as of May 2026.

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