State-run hydro power company NHPC has announced that it has been granted a letter of intent by Gujarat Urja Vikas Nigam Ltd (GUVNL) to construct a solar power project with a capacity of 200 MW. The project, valued at approximately Rs. 1,007.60 crore, will be located within Gujarat State Electricity Corporation Limited’s (GSECL) Solar Park in Khavda (GSECL Stage-1). This development comes as part of NHPC’s efforts to diversify its energy portfolio and expand into the renewable energy sector.
According to a filing submitted to the Bombay Stock Exchange (BSE), NHPC confirmed that it had received the letter of intent on May 16, 2023. The company will now proceed with the necessary steps to initiate the construction of the solar power project. The project’s completion will contribute significantly to the generation of clean and sustainable energy, supporting Gujarat’s aim to enhance its renewable energy capacity. NHPC’s expertise in the power sector positions it well to successfully execute the solar power project and contribute to India’s renewable energy goals.