Gujarat Industries Power Company (GIPCl) on Saturday said it has entered into power purchase agreements (PPAs) with Solar Energy Corporation of India for solar power projects in Gujarat.
“The GIPCl has signed the deals with Solar Energy Corporation of India for 2x40 MW Solar Power Projects in Gujarat Solar Park, Village Charanka, District Patan, under National Solar Mission (NSM) Phase-II, Batch IV," the company said in a filing to BSE.
PPA is a contract to buy electricity generated by a power plant. last month, GIPCl said it has received letters of intent (loIs) from Solar Energy Corporation of India (SECI) for execution of a solar power project in the State of Gujarat.
The GIPCl had emerged as a successful bidder in the e-reverse auction for 40-MW solar power project in Gujarat Solar Park. The company is expecting the agreement would be a success for the State in future.