Powerica Limited Signs Power Purchase Agreement for 100 MW Wind Project with GUVNL
Powerica Limited has secured a significant strategic contract, signing a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL). This agreement pertains to the development and operation of a 100 MW Wind power project located in the state of Gujarat.The PPA establishes the terms under which Powerica will procure electricity from its wind power venture, collaborating with GUVNL. The contract details outline the scope, duration, and financial parameters of this domestic energy procurement.
Key Terms of the Agreement
Powerica Limited has finalized the agreement to procure power for 25 years from the 100 MW Wind Power Project in Gujarat. The terms include a fixed tariff structure and specific timelines for project execution.The commercial details of the contract are summarized below:
| Aspect | Details |
|---|---|
| Partnering Entity | Gujarat Urja Vikas Nigam Limited (GUVNL) |
| Project Scope | Setting up 100 MW Wind power project in Gujarat |
| Power Procurement Duration | 25 years |
| Tariff Rate | Rs. 3.435 per kWh |
| Nature of Transaction | Procurement of power from a domestic wind project |
| Execution Timeline | The contract is to be executed within 24 months |
The agreement ensures the supply of power generated by the 100 MW Wind Power Project. Furthermore, it was noted that there is no interest held by the promoter group in GUVNL, and the transaction does not constitute a related party transaction.
POWERICA Stock Price Movement
Today, Powerica Limited shares edged higher to close at ₹529.6 after gaining 1.41% in the market session.The stock traded with a volume of 98,733 shares as it settled for the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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