Indian Economy News

NHPC, ENGIE sign pacts for two 200 MW solar projects in Gujarat

NHPC, a state-owned enterprise, and ENGIE, an energy solutions provider, have signed Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Ltd (GUVNL) for two 200 MW solar projects. NHPC's agreement pertains to a solar project located within Gujarat State Electricity Corporation's renewable energy park at Khavda, with an estimated project cost of US$ 101.5 million (Rs. 846.66 crore). The project is slated for completion within 15 months from the PPA execution date.

ENGIE, in its statement, highlighted that this marks their fourth solar project in Gujarat. They secured the 200 MW capacity through a competitive bidding process conducted by GUVNL on February 2, 2024, achieving a competitive tariff of US 3.1 cents (Rs. 2.62) per unit for the solar PV project.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.