Mahindra Susten has announced the signing of a purchase power agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a period of 25 years. The company has won 100 MW capacity and an additional greenshoe option capacity of 100 MW, totaling 200 MW at a tariff of Rs 2.72 per kWh. The project is a part of a 500 MW tender floated by GUVNL, Phase XIX. The project will be connected to inter-state transmission system.
The project is scheduled to be commissioned in 18 months. It was won under competitive bidding and e-reverse auction. Furthermore, the production facility is anticipated to produce around 450 million green units per year after commissioning, starting from the first year. The project is expected to generate over 6 million units in 25 years.
In August 2023, KPI Green Energy Limited emerged as a winner for grid-connected solar PV project of 200 MW (AC) in Gujarat. The project is a part of an 800 MW tender issued by GUVNL to be developed at Gujarat State Electricity Corporation Limited’s Khavda solar park, stage 2.