NLC India Limited yesterday said its wholly owned subsidiary NLC India Green Energy Limited (NIGEL) has won a 600 MW solar power project in the GSECL Khavra Solar Park tender issued by Gujarat Energy Development Corporation Limited. According to NLC India, a Navratna public sector company under the administrative control of the Coal Ministry, it had set up NIGEL for renewable energy projects. In line with the policy of developing renewable energy projects under its subsidiary, NLC India has handed over the project development to NIGEL.
As its first initiative, NIGEL signed a power purchase agreement (PPA) with GUVNL for the proposed 600 MW solar power project at Khavra Solar Park in Bhuj district of Gujarat. The entire power from the project will be purchased by GUVNL at the PPA tariff for power from the project at Rs. 2.705/kWh. The annual generation of electricity is set at 1,577.88 MU (million units), the cumulative electricity generation over its lifetime will be 39.447 BU (billion units). The project is set to offset approximately 35.5 million metric tons of carbon dioxide emissions over its entire lifetime.
According to Prasanna Kumar Mottupalli, Chairman of NIGEL, the project has the advantage of being set up in a solar park with all the necessary infrastructure and payment security for the power sold. By securing additional capacity in the greenshoe option, project economics have been improved due to scale, he said. The proposed 600 MW solar power project at Khavra Solar Park will be the largest solar power project developed by NLC India to date.
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