MSKVY 2.0 MoU Route: Eligibility, Documents and the Application Process

The MoU route allocates capacity first-come, first-served by system timestamp. There is no auction, so the competitive variable is not price - it is whether your application is complete and verified before someone else claims the substation. This is what the route requires. For the scheme itself and how the two allocation routes compare, see our MSKVY 2.0 overview.

The route in one screen

Who can apply

Eligibility is defined by financial capacity, not prior solar experience - there is no minimum megawatt track record. Recognised applicant categories are companies and groups of companies, individuals (with or without business income), proprietary concerns, registered partnership firms, co-operative societies, and consortia including a foreign member. Newly formed entities can also apply, with a CA-certified financial package in place of audited history.

Two structural rules apply regardless of category:

• One application per group. An applicant together with its parent, affiliate, ultimate parent and group companies may submit only a single response. Related entities cannot be used to multiply chances.
• Object clause. The MoA, AoA or registered bye-laws must contain an object covering generation and sale of power, renewable energy or solar. If they do not, they must be amended before the PPA is signed - which takes time, so check this first.

The financial eligibility gate

Two tests. A net-worth test everyone must clear, and a liquidity test where any one of three options is sufficient.

Test 1 - Net worth

₹1 crore per MW of quoted capacity, assessed as on 31 March 2026 - or 31 March 2025 where FY 2025-26 accounts are not yet audited, with an undertaking to upload audited figures later. Net worth must also not have been negative in any of FY 2022-23, 2023-24 or 2024-25. For companies, net worth follows Section 2(57) of the Companies Act 2013.

The portal caps your selectable capacity at whatever your verified net worth supports. In practice your balance sheet sets your maximum project size before you reach the substation list.

Test 2 - Liquidity, any one of three

• Turnover. Average annual turnover of ₹50 lakh per MW over the last three financial years. "Other Income" is explicitly excluded from this figure.
• PBDIT. ₹10 lakh per MW, profit before depreciation, interest and taxes, as at the close of FY 2025-26.
• Line of credit. For individuals with no business income only - an in-principle line of credit of ₹12.5 lakh per MW from a scheduled commercial bank, with an undertaking that the applicant derives no business or professional income.

For a consortium, both net worth and liquidity are computed proportionately to each member's percentage share.

What that means in numbers

Both tests scale linearly with capacity, so the thresholds are straightforward to work backwards from.

Reading it the other way is often more useful: divide your net worth by ₹1 crore and that is the maximum capacity you can quote, subject to also clearing one liquidity test at that same capacity.

How each applicant type evidences it

The thresholds are identical across categories; the evidence differs. Every CA certificate must carry a valid UDIN.

Documents required

All uploads are PDF, in English, on the application portal.

• Covering letter (Format A)
• Board resolutions (Formats B and E) authorising the signatory, committing 100% of project equity, and any top-up equity obligation for consortia
• Consortium agreement (Format C) and power of attorney (Format D), for consortia; foreign members may substitute a legal counsel opinion for board resolutions
• Financial requirement certificate - CA-certified net worth and liquidity per MW, with UDIN
• e-PBG of ₹5 lakh per MW via NeSL, with SFMS code and MT-760 report
• Disclosure (Format F)
• MoA, AoA or registered bye-laws with the power-generation object clause highlighted
• Certificate of incorporation, GST, PAN and Shop & Establishment registration, as applicable
• Shareholding certificate for the entity, affiliate, parent and ultimate parent - CA or CS certified, dated within one week of submission - plus promoter shareholding details
• Audited accounts or ITR for the last three financial years, or the newly-formed-entity CA package

The application flow

The portal runs a rolling weekly cycle. Position in the queue is set by system timestamp at the substation-selection stage, so the cadence matters as much as the paperwork.

1. Register on the MoU portal and create login credentials.
2. Declare and upload applicant details, net worth, turnover, proposed capacity and category-specific documents.
3. Prepare the e-PBG - ₹5 lakh per MW via NeSL, with SFMS code and MT-760 reference.
4. Accept terms and pay the registration fee of ₹1,000 plus GST.
5. Submit for verification after reviewing the draft PPA, draft MoU and scheme guidelines.
6. MSEDCL verifies documents, net worth, e-PBG, SFMS and MT-760 - ordinarily within three working days - and determines eligible net worth and corresponding eligible capacity.
7. Notification by email and SMS confirms approval status, eligible capacity, and your scheduled substation-selection date and time.
8. Select your substation - the module shows only substations within your eligible capacity. Allocation is by first successful selection; a substation another developer is mid-way through shows as "Already Under Process".
9. Pay the processing fee of ₹50,000 plus GST. The reservation is confirmed only on successful payment - if payment fails, it is released to the next developer.
10. Sign the MoU and PPA, then build to reach SCOD within 18 months of PPA execution.

The published rhythm runs roughly: registration and submission early in the week, verification over the following two working days, notification mid-week, and substation selection later the same week, skipping Sundays and holidays. Applications filed in one week are processed in the next verification cycle.

Fees and security

Technical and compliance requirements

• ALMM List-I and List-II module and cell compliance on both procurement and commissioning dates, with BIS certification for equipment
• SCADA and RTU integration for remote monitoring and control
• ABT and SEM-compliant metering per CEA, MERC and MSEDCL regulations
• Grid code compliance, forecasting and scheduling, and protection, communication and remote monitoring systems
• Minimum CUF of 19%

What these requirements mean for the model

Three of the conditions above interact in a way worth modelling explicitly before committing.

The tariff is fixed, DCR modules are mandatory, and no subsidy applies. Domestic content modules typically carry a premium over imported equivalents, and on this route that premium is not offset by CFA, SFA or an early-commissioning incentive. The return therefore rests entirely on the fixed tariff carrying a higher-cost module and a tighter procurement market - which is a different calculation from the bidding route, where module sourcing rules have at times been treated differently.

The 19% minimum CUF is a design constraint rather than a target, and it interacts with module choice and site quality. The 18-month SCOD then compresses everything: land, approvals, evacuation, procurement of ALMM-listed DCR modules and construction, all from PPA execution. Whether that is comfortable or tight depends heavily on how much site and evacuation work is already done when the MoU is signed - which is the argument for treating substation selection as the end of a preparation process rather than the start of one. How you structure delivery matters here too; our comparison of solar EPC and EPCM models covers the trade-offs for multi-site portfolios of this kind.

Planning an MSKVY 2.0 MoU application?

On a first-come, first-served route, execution readiness is the whole game. SLNKO Energy is an engineering-led EPCM and PMC partner with over 10 GW delivered across 19 states, including work under PM-KUSUM and other government programmes. We support substation and site evaluation, engineering and DPR, EPCM execution and long-term O&M - and can help you plan a build programme that meets an 18-month SCOD.

Assessing a substation or sizing your eligible capacity?

Send us your target district, capacity and land position. We will come back with an indicative view on technical viability and build programme. Talk to our team.

Phone: +91 62025 28672 | WhatsApp: +91 87962 60069 | Email: Contact us

Apply on the official portal: portal.mahadiscom.in/mskvy2_MoU_route

Frequently Asked Questions

Thresholds, fees and timelines are set by MSEDCL and MERC and may be revised. Confirm current values on the official MoU route portal before filing. Figures current as of 6 August 2026.