Receives Letter of Intent for 50 MW Wind Power Project from GUVNL
Powerica has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 50 MW wind power project in Gujarat.
By ScoutQuest · · 2 min read
- Project Capacity
- 50 MW wind power project in Gujarat
- Tariff and Tenure
- 3.51/kWh for 25 years
- Commissioning Timeline
- within 24 months from the date of the Power Purchase Agreement (PPA)
What was announced
Powerica Limited has informed the stock exchanges that it has received a Letter of Intent (LoI) for a 50 MW wind power project from Gujarat Urja Vikas Nigam Limited (GUVNL), a Gujarat state power utility. The LoI is referenced GUVNL/RE/Wind/Phase XI/1670 dated October 19, 2026.
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key terms of the LoI
- Capacity: 50 MW wind power project in the state of Gujarat.
- Buyer: GUVNL, a domestic entity.
- Tariff: 3.51/kWh for 25 years.
- Commissioning: the project is to be commissioned within 24 months from the date of the Power Purchase Agreement (PPA).
- PPA timing: the PPA is to be executed within 15 business days from the adoption of the tariff by GERC (Gujarat Electricity Regulatory Commission).
Where this stands
The update describes the document received as a Letter of Intent for supply of power from a wind power project. The company's own disclosure sets out the sequence ahead: the tariff is to be adopted by GERC, and the PPA is to be executed within 15 business days of that adoption. The 24-month commissioning period runs from the date of the PPA, not from the date of the LoI.
Other points disclosed
- The LoI has been received from a domestic entity.
- The promoter, promoter group and group companies have stated they have no interest in the entity that awarded the LoI.
- The transaction does not fall within related party transactions.
How this may be read
A 25-year power supply arrangement with a state utility is a long-tenure business tie-up, and the announcement signals a new project in the company's wind portfolio. The update is a Letter of Intent stage intimation, so the sequence of tariff adoption by GERC, execution of the PPA and commissioning within the stated window are the steps that follow.
What a retail investor may want to watch
- Adoption of the tariff by GERC.
- Execution of the PPA within 15 business days of that adoption.
- Progress of commissioning within 24 months from the PPA date.
- Further exchange disclosures the company makes on the project as it moves from LoI to PPA and construction.
Also from Powerica
Shareholders approve one director appointment, four re-appointments and new Secretarial Auditor at 42nd AGM
24 Sep 2026
More numbers
- Wind power project capacity50 MW
- Tariff for power supply3.51/kWh
- Power supply tenure25 years
- Commissioning timeline from PPA date24 months
- PPA execution window from GERC tariff adoption15 business days
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