NHPC Limited, a leading player in India’s hydropower sector and a central public sector enterprise under the Ministry of Power, has emerged victorious in securing the bid to construct a 200 MW capacity Solar Power Project in Gujarat.
This project, slated to be established within the 1,125 MW RE Park of Gujarat State Electricity Corporation Ltd. (GSECL) at Khavda in the Kachchh district, marks a significant milestone in NHPC’s renewable energy portfolio expansion strategy. Expected to yield approximately 473 million units of electricity in its inaugural year of operation, the project’s cumulative energy generation over a 25-year span is projected to reach an impressive 10,850 million units. NHPC will spearhead the project’s development on a build-own-and-operate basis, with an estimated investment outlay of Rs. 847 crores. The competitive bidding process, facilitated by Gujarat Urja Vikas Nigam Limited on 2nd March 2024, culminated in NHPC being awarded the project, as evidenced by the issuance of the Letter of Intent on 14th March 2024. Remarkably, the project secured a favourable tariff rate of Rs. 2.66 per unit, indicative of NHPC’s commitment to delivering cost-effective renewable energy solutions.
With a targeted completion timeline of 18 months, NHPC is poised to swiftly commence project execution, leveraging its extensive expertise in power infrastructure development and project management. The endeavour aligns seamlessly with NHPC’s overarching mission to foster sustainable energy growth and contribute to India’s renewable energy ambitions. Established in 1975, NHPC Limited, formerly known as the National Hydroelectric Power Corporation, has been at the forefront of India’s power sector evolution, spearheading the development of hydroelectric power projects across the nation. In line with its commitment to innovation and sustainability, NHPC has diversified its energy portfolio to include solar, geothermal, tidal, and wind power initiatives, thereby bolstering India’s renewable energy landscape. The successful acquisition of the Khavda Solar Power Project underscores NHPC’s unwavering dedication to driving renewable energy adoption and facilitating the transition towards a greener, more sustainable energy paradigm. As NHPC embarks on this transformative journey, it reaffirms its position as a key player in India’s renewable energy sector, poised to shape the nation’s energy future through pioneering initiatives and strategic investments.
