NHPC Receives LoI From GUVNL For 200 MW RE Park In Khavda

NHPTL Signs JV Agreement To Infuse Funds To Six Parties

NHPC (National Thermal Power Corporation) a public sector undertaking under the ownership of the Ministry of Power recently announced that it received a letter of intent (LoI) from Gujarat Urja Vikas Nigam (GUVNL) for the 200 MW Khavda project. 

NHPC received this letter for a 200-megawatt (MW) solar power project at the 1125 MW Gujarat State Electricity Corporation (GSECL’s) renewable energy (RE) Park in Khavda, Gujarat. The estimated financial implication for the said solar power project is expected to be Rs 846.66 crore. NHPC a large hydropower development organization in India has also diversified in the field of solar and wind power. As of 31 December 2023, the Government of India held a 70.95% stake in the company.

The power generation company reported a 26.76% decline in consolidated net profit to Rs 491.90 crore in Q3 FY24 from Rs 671.67 crore recorded in Q3 FY23. Revenue from operations decreased 20.41% year on year (YoY) to Rs 2,055.50 crore in the quarter ended 31 December 2023.

Earlier this year, NTPC REL announced that it had secured a bid for a 225 MW solar PV power project in GUVNL’s 1125 MW grid-connected Solar PV power projects. Taking to X, formerly Twitter, NTPC REL announced that it has secured a bid for a 225 MW solar project.

The press statement by the company,” NTPC Renewable Energy Limited has secured the bid for 225 MW capacity in the tender floated by GUVNL (Gujarat Urja Vikas Nigam Ltd) for procurement of power through competitive bidding process (followed by e-reverse auction) from 1125 MW Grid Connected Solar Photovoltaic Power Projects to be set up in GSECL’s RE Park at Khavda (GSECL Stage-3) without energy storage.”