Powerica Ltd has signed a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL) to develop a 100 MW wind power project in Gujarat, according to an exchange filing on Friday. Under the agreement, GUVNL will procure electricity generated from the project for a period of 25 years at a tariff of ₹3.435 per kWh. The contract has been awarded by GUVNL, a domestic entity, and pertains to the procurement of power from the proposed 100 MW wind project.
The project is expected to be executed within 24 months from the date of the agreement, as reported by the company. The filing did not disclose the financial value of the contract. The project will add 100 MW of wind generation capacity in Gujarat and will supply power to GUVNL under the long-term agreement.
According to reports from CNBC TV18, earlier on July 10, the firm had informed that it has emerged as the winning bidder in the e-reverse auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL) for procurement of power from grid-connected wind power projects. The company secured a 50 MW wind power project under Gujarat Urja Vikas Nigam Ltd's 250 MW grid-connected Wind Power Projects tender.
The company also emerged as a winning bidder in Solar Energy Corporation of India's tender for the purchase of power from 2,000 MW grid-connected wind power projects. The electronic reverse auction was finalised on July 15, 2026, where Powerica submitted its competitive bid, as reported by CNBC TV18.
According to CNBC TV18 reports, Powerica Ltd ended Friday's session 1.41% higher at ₹532.00 on the NSE, gaining ₹7.40 from its previous close. The positive market response reflects investor confidence in the company's expanding renewable energy portfolio and recent contract wins.
