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Powertrac Group signs PPAs for 480 MW distributed solar projects in Gujarat

The solar projects, backed by an estimated investment of INR 2,155 crore, will be developed under Gujarat’s distributed renewable energy program.
Uma Gupta
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Uma Gupta
Image: Powertrac

Powertrac Group has announced the signing of power purchase agreements (PPAs) for 480 MW of ground-mounted solar projects under Gujarat’s distributed renewable energy program. The PPAs have been signed with Gujarat’s state utility, Paschim Gujarat Vij Company Ltd (PGVCL), which is facilitating the Distributed Renewable Energy Bilateral Purchase scheme in Gujarat.

The company said the projects will require an estimated investment of INR 2,155 crore.

The projects will be developed using domestically manufactured DCR-compliant PV modules and will supply power at a tariff of INR 2.76/kWh.

Power evacuation for the projects is planned through the 11 kV feeder-level substation network.

Powertrac Group said land acquisition, engineering and detailed project planning, and equipment procurement activities are currently underway. Financial closure has reached the final stage, while ground development activities have already commenced.

The company targets to build a 1 GW independent power producer (IPP) portfolio by 2030.

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