Gujarat Industries Power signs power purchase pact with Gujarat Urja Vikas for 550 MW solar PV

Yes, I am aware of the news that Gujarat Industries Power (GI Power) has signed a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for 550 MW of solar PV. The PPA is for a period of 25 years and will be for the entire capacity of GI Power’s upcoming solar PV project in Gujarat.

This is a significant development for the Indian solar power sector, as it is the largest PPA for solar PV in Gujarat to date. It is also a sign of the growing confidence of investors in the Indian solar market.

The PPA will help GI Power to finance the construction of its solar PV project and will also provide GUVNL with a reliable source of renewable energy. The project is expected to be commissioned in 2024-25.

The signing of this PPA is a welcome boost for the Indian solar power sector and is a sign that the market is continuing to grow and mature. It is also a positive development for the environment, as it will help to reduce India’s reliance on fossil fuels.

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