NLC India Establishes Subsidiary NIGEL for RE Projects, Secures 600 MW Solar Project in Gujarat
NIGEL's inaugural initiative involves the signing of a Power Purchase Agreement (PPA) with GUVNL for the proposed 600 MW Solar Power Project at Khavda Solar Park.
March 06, 2024. By Abha Rustagi
In a noteworthy development, NLCIL has emerged victorious in securing a tender for a 600 MW Solar Power Project in the GSECL Khavda Solar Park, initiated by Gujarat Urja Vikas Nigam Limited (GUVNL) through a competitive bidding process. Reflecting its adherence to developing renewable energy projects under the green energy subsidiary, NLCIL has entrusted the project development to NIGEL.
NIGEL's inaugural initiative involves the signing of a Power Purchase Agreement (PPA) with GUVNL for the proposed 600 MW Solar Power Project at Khavda Solar Park, situated in the Bhuj District of Gujarat.
Under the terms of the PPA, GUVNL will procure the entire power generated by the project at a tariff rate of INR 2.705/kWh. The project is poised to contribute significantly to the region's energy landscape, with an estimated annual electricity generation of 1,577.88 MU and a cumulative generation of 39.447 BU over its lifetime. Moreover, it is expected to mitigate approximately 35.5 million metric tons of carbon dioxide emissions throughout its operational lifespan.
Key officials present during the signing ceremony for the PPA include the Chief Executive Officer, Chairman, Director, and CFO of NIGEL, along with representatives from GUVNL. Chairman of NIGEL, Prasanna Kumar Motupalli, highlighted the strategic advantages of establishing the project within a Solar Park, leveraging existing infrastructure, and ensuring payment security for the power sold. He also emphasized the project's enhanced economics through the acquisition of additional capacity in the Greenshoe option, capitalizing on economies of scale.
This endeavor marks a significant milestone for NLC India Limited, as the proposed 600 MW Solar Power Project in Khavda Solar Park stands to become the single largest solar project developed by the company to date.
please contact: contact@energetica-india.net.
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix
Muthu Subramanian
MD & General Manager
From Charging to Swapping: How Yuma Energy is Changing EV Refueling