Powerica Signs 100 MW Wind Power Agreement with GUVNL, Strengthening Its Renewable Energy Portfolio
Powerica Limited has announced a significant milestone in its renewable energy business by signing a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of a 100 MW wind power project in Gujarat.
The company disclosed the development in a regulatory filing to the stock exchanges on July 31, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Highlights of the Agreement
- Company: Powerica Limited
- Customer: Gujarat Urja Vikas Nigam Limited (GUVNL)
- Project: 100 MW Wind Power Project
- Location: Gujarat
- Power Purchase Agreement (PPA) Tenure: 25 years
- Tariff: ₹3.435 per kWh
- Project Execution Timeline: 24 months
- Nature of Contract: Domestic
About the Project
Under the agreement, Powerica will develop and operate a 100 MW wind power project in Gujarat and supply electricity to GUVNL under a long-term Power Purchase Agreement.
The project has been awarded at a fixed tariff of ₹3.435 per kilowatt-hour (kWh), with power procurement committed for 25 years. Long-term PPAs provide revenue visibility for renewable energy developers by ensuring a stable buyer for the electricity generated.
The company expects to complete the project within 24 months.
Strategic Importance of the Deal
The agreement represents an important step in Powerica’s expansion into India’s fast-growing renewable energy sector.
The project is expected to:
- Expand Powerica’s renewable energy generation portfolio.
- Provide predictable long-term revenue through a 25-year power supply agreement.
- Strengthen the company’s presence in Gujarat, one of India’s leading states for wind energy development.
- Support India’s clean energy transition and renewable capacity addition targets.
With increasing demand for renewable electricity and supportive government policies, long-term wind projects continue to offer stable business opportunities for developers.
Why Gujarat?
Gujarat is among India’s largest renewable energy hubs, benefiting from:
- Strong and consistent wind resources.
- Well-developed transmission infrastructure.
- Supportive state policies for renewable energy investments.
- Growing demand for clean electricity from industries and utilities.
The state’s favorable conditions make it an attractive destination for large-scale wind energy projects.
Corporate Governance Disclosure
Powerica clarified in its exchange filing that:
- The agreement has been signed with a domestic entity.
- None of the promoters, promoter group, or group companies have any interest in GUVNL.
- The transaction does not qualify as a related-party transaction, ensuring compliance with SEBI’s corporate governance requirements.