NHPC Limited has entered into a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 200-megawatt Solar Power Project.
What Happened: The announcement came on Friday, revealing that the project is situated at Khavda within GSECL’s RE Park (GSECL Stage-3). The financial implication of the project is estimated to be around ₹846.66 crore.
The PPA was signed on June 27, 2024, and the project is slated for completion within 15 months from the date of the agreement. GUVNL issued a letter of intent regarding this order to NHPC in March.
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Earlier in April, the power major had entered into a partnership with Norwegian company Ocean Sun to delve into the possibilities of floating solar energy technology. This technology is anchored on photovoltaic panels that will be installed on hydro-elastic membranes at locations identified by NHPC.
Price Action: NHPC’s share price was up 2.43% to trade at ₹100.98 on Friday afternoon.
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