ENGIE Signs PPA for 200 MW Solar PV Project With GUVNL

ENGIE, a leader in low-carbon energy solutions, has announced the signing of Power Purchase Agreement (PPA) for a 200 MW Solar Photovoltaic (PV) project. This project is part of Gujarat Urja Vikas Nigam Limited's (GUVNL) larger project encompassing 1,125 MW grid-connected Solar PV power projects, to be established within the Gujarat State Electricity Corporation's Renewable Energy Park situated at Khavda, Gujarat. The bidding process by GUVNL took place on February 2, 2024, with ENGIE securing 200 MW at a tariff of ₹2.62 per unit.

The 200 MW Solar PV project marks ENGIE’s fourth solar project in the state of Gujarat.

Amit Jain, CEO and Country Manager, India, expressed, “The 200 MW Solar PV project under GUVNL's solar power initiative will address rising energy demands, reduce carbon emissions, and contribute to a greener future. Signing of this PPA marks a significant success for ENGIE India, highlighting our dedication to sustainable energy and India's renewable energy vision.”

The latest project will take ENGIE’s total capacity in Gujarat to 830 MW, further solidifying its position as a major contributor the state's renewable energy landscape. With a portfolio of 2.3 GW capacity, ENGIE has achieved considerable success spread across 19 projects strategically located in key states of India.

GUVNL has been working to secure power supplies for an estimated rise in power demand to 36,000 MW from the existing 26,000 MW in the state. This is one the back of industrialisation as well as higher consumption among retail, residential segments due to better access, incomes and of course, cooling demands. The state is expected to remain in the top 3 in terms of renewable energy additions to the grid, even as it leads the country in rooftop solar.