Bondada Engineering Forms New SPV For MAHAGENCO Renewable Energy Project

Bondada Engineering Limited has announced the incorporation of a new subsidiary, BONDADA DINESH SPV PRIVATE LIMITED, on March 26, 2026. The company shared this development through an official filing with BSE Limited under the disclosure requirements of the Securities and Exchange Board of India (SEBI).

The newly formed entity has been set up as a Special Purpose Vehicle (SPV) to execute a project awarded by Maharashtra State Power Generation Company Limited. This project is being carried out through a consortium arrangement where Bondada Engineering Limited is the lead member, and Dinesh Engineers Limited is the supporting partner. The formation of the SPV is a requirement under the terms of the project award, ensuring a dedicated structure for project financing, execution, and long-term operations.

As per the company’s filing, Bondada Engineering holds a 51 percent stake in the new subsidiary, giving it a controlling interest. The SPV has been registered in Hyderabad with an authorized and paid-up capital of ₹1,00,000, divided into 10,000 equity shares. The company is newly incorporated and has not yet started its business operations.

The main objective of the SPV will be to operate in the power and energy sector, with a strong focus on renewable energy projects. Its activities will include operations and maintenance of solar and hybrid energy systems. In addition, it will also work on areas such as grid stabilization and energy storage solutions, which are becoming increasingly important in the evolving energy sector.

This step is part of Bondada Engineering Limited’s broader plan to expand its presence in the renewable energy market. By creating a dedicated entity for project execution, the company aims to improve efficiency and meet project requirements more effectively.

The company’s Compliance Officer, Sonia Bidlan, confirmed that the incorporation of the subsidiary follows all regulatory norms and is necessary to meet the contractual obligations linked to the awarded project.