Gujarat Urja Vikas Nigam (GUVNL) has provided a letter of intent (LoI) to the Gujarat Industries Power Company (GIPCL) for the construction of solar photovoltaic (PV) power plants with a 600 MW capacity at Khavda in the Kutch district of Gujarat.
The PV project is expected to cost around Rs 3,600 crore. After receiving the letter of intent on May 20, 2023, GIPCL and GUVNL will sign a power purchase agreement (PPA).
At the Khavda location, GIPCL is building a 2,375 MW renewable energy park, and the 600 MW solar project is anticipated to guide the growth of its solar portfolio. The electric utility firm has 1,184.4 MW of installed capacity.
