Bondada Engineering, a prominent Hyderabad‑headquartered EPC service provider for renewable infrastructure, has secured a fresh engineering‑procurement‑construction contract valued at INR11.54 billion (US$119.3 million) for a distributed 270MWp ground‑mounted solar PV project across multiple sites within Maharashtra, India.
Disclosed through regulatory filings filed with domestic stock exchanges, the contract has been granted by an unnamed Indian enterprise focused on renewable energy development and delivery. Under contract terms, Bondada will carry out full‑scope EPC delivery work for this solar scheme, targeting practical completion within six months upon formal order receipt.
The new win further enlarges Bondada’s renewable project order backlog and reinforces its execution credentials for large‑scale solar PV assignments. The firm keeps pursuing business prospects spanning solar EPC, clean‑energy development, battery energy storage and other emerging infrastructure verticals, with clear priorities on portfolio diversification and scaling up its project‑delivery capacity.
This latest award adds to a string of major contract captures secured by Bondada in the current calendar year. Prior notable wins include a 250MW solar‑plus‑storage EPC mandate awarded by NTPC Renewable Energy in Uttar Pradesh and a 600MW solar balance‑of‑system contract for NTPC Green Energy in Rajasthan.
In parallel corporate updates, Onix IPP, Bondada’s in‑house independent power producer subsidiary, has locked in project financing worth INR9.11 billion (US$94.1 million) extended by the State Bank of India for a 225MW solar facility situated in Maharashtra.
The sanctioned credit facility consists of a INR9 billion term loan alongside INR112.5 million in non‑fund‑based financing instruments, as documented in Bondada’s regulatory filing. The upcoming solar asset, to be built by Onix IPP, enjoys revenue certainty backed by a 25‑year power purchase agreement inked with Maharashtra State Electricity Distribution Company Limited (MSEDCL).
Bondada highlighted that the financing deal underpins its strategic push into the IPP segment, supporting the build‑out of a pool of long‑life renewable‑generation assets.
Onix IPP maintains an extensive development pipeline across solar, wind and hybrid power assets nationwide. Its current project roster covers 1,215MW of PM‑KUSUM‑designated solar capacity in Maharashtra plus 187MW in Gujarat; more than 250MW of captive solar generation and 350MW utility‑scale solar schemes within Gujarat; over 150MW solar‑wind hybrid capacity, and upwards of 600MW standalone wind projects. The IPP division is striving to assemble a 10‑GW total renewable‑energy asset portfolio by 2030.
