Gujarat Construction Firm Acquires 65-Acre Land For Hybrid Power Project

Construction Firm Gujarat Toolroom Acquires 65-Acre Land For Hybrid Power Project

Residential construction company Gujarat Toolroom Limited has announced the acquisition of 65 acres of land on a long-term lease in Gujarat for the establishment of a Hybrid Power Plant.

In a regulatory filing, Gujarat Toolroom stated that it has procured a parcel of land spanning 65 acres in Gujarat, earmarked for the construction of a Hybrid Power Plant.” Approximately 60 acres of the acquired land will be dedicated to the installation of solar panels. Each acre is projected to generate 1 Megawatt of energy per hour. The remaining 5 acres will be designated for essential power management infrastructure, including transformer stations and high-voltage line terminals.

The Hybrid Power project will be built at an estimated cost ranging from Rs 5.72 to Rs 6.5 Billion and will be completed in the span of 3-5 years, the company said in a statement.

Along with a solar plant, the land acquired includes provisions for the placement of 15 on-shore wind turbines, strategically positioned across every 4 acres of land. Each turbine is expected to produce 2.5 Megawatts of power per hour.

Gujarat Toolroom has also claimed that upon completion, the Hybrid Power Plant aims to contribute 97.5 Megawatts of clean and sustainable electricity to the grid. With the potential to power approximately 70,000 to 73,000 households simultaneously, the project is poised to positively impact local communities by providing access to reliable electricity, said the company.

In other news, Mumbai-based green energy company Avaada Energy has announced that it secured a Rs 1,190 crore loan for a new solar project in Gujarat from the State Bank of India (SBI). The project is located in Surendra Nagar district of Gujarat.

Gujarat continued to progress toward the clean energy transition, a recent joint report by the Institute for Energy Economics and Financial Analysis (IEEFA) and Ember stated. The report found that some states have developed progressive steps, such as boosting decentralised renewable energy deployment, promoting solar pumps for agricultural needs, and enhancing storage solutions to ensure more renewable energy in their electricity systems. But, the transition to clean electricity is still in its infancy in many states.