Powerica signs PPA with GUVNL for 100 MW wind project
Powerica Limited has signed a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of a 100 MW wind power project in Gujarat.
According to the company’s regulatory filing, the project will be developed at a tariff of Rs 3.435/kWh under a 25-year PPA and has a stipulated execution timeline of 24 months.
Last month, GUVNL concluded an e-reverse auction for 250 MW of wind capacity, with an additional 250 MW greenshoe option, at a discovered lowest tariff of Rs 3.51/kWh. Powerica, NLC India Renewables and Juniper Green Energy were tied at the lowest tariff.
GUVNL is a Gujarat state government undertaking. Powerica said the latest agreement does not involve any related party transaction and that its promoter group has no interest in the entity that awarded the contract.
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