Gujarat Urja Vikas Nigam Ltd issues LoI to Gujarat Industries Power Company Ltd for 600 MW solar power project

Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a Letter of Intent, dated 16/05/2023 to GUJARAT INDUSTRIES POWER COMPANY LIMITED (GIPCL), received on 20/05/2023 for 600 MW capacity Solar photovoltaic power projects at Khavda. Pursuant to said LOI, GIPCL is required to sign PPA with GUVNL as a part of the BID documents, subject to adoption of tariff of GERC. The estimated financial implication for the said Solar Power Project would be Rs. 3,600 crores (approx.).

Shares of Gujarat Industries Power Company Limited was last trading in BSE at Rs. 99.29 as compared to the previous close of Rs. 96.76. The total number of shares traded during the day was 62827 in over 692 trades.

The stock hit an intraday high of Rs. 100.66 and intraday low of 94.66. The net turnover during the day was Rs. 6105965.00.

Source : Equity Bulls

Keywords

GujaratIndustriesPowerCompany INE162A01010 LOI GUVNL 600MW SolarPowerProject