Gujarat Alkalies and Chemicals to Procure 62.7 MW Hybrid Power from Aditya Birla Renewables
Gujarat Alkalies and Chemicals Ltd. (GACL) will procure 62.7 MW of renewable hybrid power from Aditya Birla Renewables through a captive arrangement, acquiring a 26 percent stake in the SPV, Aditya Birla Renewables SPV 4.
December 31, 2024. By Mrinmoy Dey
The company, accordingly, has entered into a shareholders agreement to pick up a 26 percent stake in the SPV, Aditya Birla Renewables SPV 4.
“As per the shareholders agreement, GACL shall acquire and hold 26 percent of equity share capital of SPV at face value of INR 10 each in due course,” the company shared in an exchange filing.
It further added that the SPV will be setting up 62.7 MW Renewable Hybrid Power Project in Gujarat for 100 percent captive power usage by GACL. The parties have also signed a power consumption agreement for 25 years.
GACL, in its Annual Report 2023-24 stated the company is gradually shifting towards renewable energy, which will help reduce operating costs, increase profitability and meet regulatory compliances through reduced emissions.
GACL has installed various windmills having a total wind Power capacity of 171.45 MW. In addition, the company has also installed a 35 MW solar power plant to meet the solar renewable purchase obligations.
The company has also installed a 563 kW solar rooftop power plant at the Vadodara complex, and 220 kW solar rooftop power plant and a 640 kW floating solar power plant at Dahej complex. Both at Vadodara and Dahej complexes, GACL has also installed back pressure turbines (BPT) which help in recovering energy from high-pressure steam in the form of electric power.
In addition to this, during the first quarter of FY 2024-25, GACL successfully tied up with NTPC Vidyut Vyapar Nigam (NVVNL) and Tata Power Trading Company (TPTCL) for the supply of solar power to the company from their 50 MW and 70 MW solar power installations respectively.
The company is also in discussions with NTPC Renewable Energy and other developers for the supply of more than 100 MW of renewable power on a hybrid/round-the-clock (RTC) basis.
The company aims to reduce the cost of electric power by increasing renewable power content to about 40 percent on an annual basis. It is in the process of targeting to achieve 80 percent of green power out of its total requirements in the next 2-3 years.
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