NIGEL Inks PPA With GUVNL For 600 MW Solar Project

NLCIL has emerged victorious in securing a 600 MW Solar Power Project tender within the GSECL Khavda Solar Park, initiated by GUVNL through a competitive bidding process. Reflecting its commitment to renewable energy initiatives, NLCIL has entrusted the project development responsibilities to NIGEL, its green energy wholly owned subsidiary.

Power Purchase Agreement Signed

The wholly owned subsidiary of NLCIL, NIGEL, has entered into a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for the planned 600 MW Solar Power Project at Khavda Solar Park in Bhuj District, Gujarat. According to the agreement, GUVNL will purchase all the electricity generated by the project at a tariff of Rs. 2.705/kWhr.

Environmental Impact and Project Scope

The project’s annual electricity generation capacity is estimated at 1,577.88 Million Units (MU), with a cumulative generation of 39.447 Billion Units (BU) over its lifetime. Moreover, the project is poised to mitigate approximately 35.5 Million Metric Tons of Carbon dioxide emissions throughout its operational lifespan.

Key Stakeholders’ Involvement

The PPA signing ceremony witnessed the participation of NIGEL’s Chief Executive Officer, accompanied by the Chairman, Director, and CFO of NIGEL, alongside the GM (Renewables) from GUNVL. Chairman of NIGEL, Shri. Prasanna Kumar Motupalli, emphasized the project’s advantages, including its establishment within a Solar Park with readily available infrastructure and secure payment arrangements.

Towards a Greener Future

The proposed 600 MW Solar Power Project in Khavda Solar Park marks a significant milestone for NLCIL, representing the largest solar project developed by the company to date. With this endeavor, NLCIL and its subsidiary NIGEL continue to contribute towards a sustainable and environmentally friendly energy landscape.