CHENNAI, MARCH 6
Gujarat Urja Vikas Nigam Ltd (GUVNL) on Wednesday announced that it has signed an agreement with NLC India Limited’s subsidiary to purchase power from its upcoming 600 MW solar project in Gujarat.
The subsidiary, NLC India Green Energy Ltd (NIGEL), has signed the power purchase agreement with GUVNL for the proposed Khavda Solar Park in Bhuj district.
NLCIL has won 600 MW Solar Power Project tender in the GSECL Khavda Solar Park, floated by GUVNL through competitive bidding process.
The entire power from the project will be procured by GUVNL at a tariff of Rs 2.705/kWhr (kilowatt hour), NLC India Ltd (NLCIL) said in a BSE filing.
- GUVNL has signed an agreement with an NLC India subsidiary to purchase power from its upcoming 600 MW solar project in Gujarat
- The project will be the single largest solar project to be developed by NLCIL
The project is expected to generate 1,577.88 million units of green energy every year and 39.447 billion units on a cumulative basis over its lifetime, offsetting around 35.5 million metric tonne of Co2 emissions.
The PPA was signed by the Chief Executive Officer of NIGEL in the presence of Chairman, NIGEL Director and CFO, NIGEL with GM (Renewables), GUNVL at Vadodara.
NIGEL Chairman Prasanna Kumar Motupalli said, “The project has the benefit of being established in a solar park with readily available infrastructure and with payment security for power sold.”
By securing additional capacity in the Green shoe option, the project economics have been improved because of scales, he further added.
The company claimed that the project will be the single largest solar project to be developed by NLCIL.
NLCIL, under Ministry of Coal, is into lignite production and thermal and renewable energy generation.
