Powertrac signs PPAs for 480 MW solar projects in Gujarat
Powertrac Group has signed power purchase agreements (PPAs) with Paschim Gujarat Vij Company Ltd (PGVCL) for the development of 480 MW of ground-mounted solar projects under Gujarat’s Distributed Renewable Energy Bilateral Purchase scheme.
The company said the projects will require an estimated investment of Rs 2,155 crore and will supply power at a tariff of Rs 2.76 per kWh.
Project details
The solar projects will be developed using domestically manufactured Domestic Content Requirement (DCR)-compliant photovoltaic (PV) modules.
Power evacuation is planned through the 11 kV feeder-level substation network under the distributed renewable energy framework being implemented by PGVCL.
According to the company, land acquisition, engineering and detailed project planning activities are currently underway. Procurement of key equipment has also commenced.
The company stated that financial closure is in its final stages, while ground development activities have already begun.
Expansion plans
The projects form part of Powertrac Group’s broader renewable energy expansion strategy. The company has set a target of developing a 1 GW independent power producer (IPP) portfolio by 2030.
In February, Powertrac Group announced an investment of Rs 600 crore to establish a containerised Battery Energy Storage System (BESS) manufacturing facility in India with an annual production capacity of 1,000 MWh.
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