Bondada Engineering Limited has announced the receipt of a Notification of Award (NOA) from NTPC Green Energy Limited (NGEL) for a massive solar project in Rajasthan in a major boost to its solar energy portfolio. The contract, valued at approximately ₹816.01 crore, underscores the company’s growing dominance in the solar Engineering, Procurement, and Construction (EPC) sector and further solidifies its strategic partnership with the NTPC Group.
Project Scope and Timeline Details
The award entails the execution of Balance of System (BOS) works for a 600 MW solar photovoltaic project located at Fatehgarh, Rajasthan by Bondada. The development is divided into two distinct segments—Block-1 and Block-3—each with a capacity of 300 MW.
The terms of the agreement states that Bondada will be reponsble for these services:
- Bondada will be reponsible for the Infrastructure including installation, testing and final commisioning of the Project.
- It will complete the technicle planning and site development.
- Bondada will be responsible for Supply and Manufacturing including the Sourcing and Inspection of critical equipment at supplier works.
The project is slated for completion within a tight 16-month timeframe, reflecting the administrative push to accelerate renewable capacity additions in India’s high-potential solar hubs.
This latest win marks the second major order Bondada has secured from the NTPC Group in recent months. With this addition, the company’s cumulative order inflow from the state-run power giant has reached roughly ₹1,207 crore, with a combined project capacity nearing 1 GW.
On a broader scale, the Fatehgarh project has propelled Bondada’s total solar EPC order book to an impressive 5.3 GWp. This substantial backlog provides the company with high revenue visibility and operational momentum for the next several quarters.
Financial Performance and Market Context
The contract comes on the heels of a stellar financial year for Bondada Engineering. The company recently reported its FY2025-26 results, highlighting a staggering 81% year-on-year growth in revenue, which climbed to ₹2,843 crore. Net profit for the same period stood at ₹211 crore, driven by a sharp expansion in telecom and solar infrastructure operations.
As NTPC moves toward its goal of achieving 60 GW of renewable energy capacity by 2032, Rajasthan has emerged as a critical theatre for its utility-scale solar push. Bondada’s successful bid places it among an elite group of EPC players, including KPI Green and Solarworld, who are currently transforming the arid landscapes of Bikaner and Fatehgarh into the backbone of India’s green energy transition.
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