Gujarat Urja Vikas Nigam Ltd. issues LoI to Gujarat Industries Power Company Ltd. for 600 MW solar power project

Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a Letter of Intent, dated 16/05/2023 to GUJARAT INDUSTRIES POWER COMPANY LIMITED (GIPCL), received on 20/05/2023 for 600 MW capacity Solar photovoltaic power projects at Khavda. Pursuant to said LOI, GIPCL is required to sign PPA with GUVNL as a part of the BID documents, subject to adoption of tariff of GERC. The estimated financial implication for the said Solar Power Project would be Rs. 3,600 crores (approx.).

EQUITYBULLS