ENGIE Signs PPA for 200 MW Solar PV Project in GUVNL's 1,125 MW Grid Connected Solar PV Power Projects
ENGIE, a leader in low-carbon energy solutions, proudly announces the signing of Power Purchase Agreement (PPA) for a 200 MW Solar Photovoltaic (PV) project. This project is part of Gujarat Urja Vikas Nigam Limited's (GUVNL) larger project encompassing 1,125 MW grid-connected Solar PV power projects, to be established within the Gujarat State Electricity Corporation's Renewable Energy Park situated at Khavda, Gujarat. The bidding process by GUVNL took place on February 2, 2024, with ENGIE securing 200 MW at a competitive tariff of ₹2.62 per unit.
GUVNL's project aims to fortify India's renewable energy capacity and promote sustainable development in the region.
The 200 MW Solar PV project marks ENGIE’s fourth solar project in the state of Gujarat, showcasing ENGIE’s expertise and leadership in the renewable energy sector. Leveraging advanced technologies and innovative solutions, ENGIE remains dedicated to delivering high quality, reliable, and sustainable energy solutions to communities across India.
Amit Jain, CEO and Country Manager, India, expressed, “The 200 MW Solar PV project under GUVNL's solar power initiative will address rising energy demands, reduce carbon emissions, and contribute to a greener future. Signing of this PPA marks a significant success for ENGIE India, highlighting our dedication to sustainable energy and India's renewable energy vision.”
ENGIE looks forward to collaborating closely with GUVNL and stakeholders to ensure the successful implementation and operation of the 200 MW Solar PV project. This will lead ENGIE’s total capacity in Gujarat to 830 MW, further solidifying our position as a major contributor the state's renewable energy landscape. With a portfolio of 2.3 GW capacity, ENGIE has achieved considerable success spread across 19 projects strategically located in key states of India.
About ENGIE:
ENGIE is a global reference in low-carbon energy and services. With its 97,000 employees, clients, partners and stakeholders, the Group strives every day to accelerate the transition towards a carbon-neutral economy, through reduced energy consumption and more environmentally friendly solutions. Inspired by its purpose statement, ENGIE reconciles economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its clients.
Turnover in 2023: €82.6 billion. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Euro 100, MSCI Europe) and non-financial indices (DJSI World, Euronext Vigeo Eiris - Europe 120 / France 20, MSCI EMU ESG screened, MSCI EUROPE ESG Universal Select, Stoxx Europe 600 ESG-X).
About ENGIE India:
ENGIE is one of India’s leading clean-power generation companies as a global reference in low-carbon and energy solutions. Incorporated in 2014 and headquartered in Pune, ENGIE is focused on strengthening its commitment to decarbonization with an ambitious “Net Zero Carbon” target by 2045. Together with our employees, customers, partners, and stakeholders, we are dedicated to offering competitive turnkey low-carbon solutions to our customers. ENGIE’s ambition is to become the world leader in the zero-carbon transition, which means we are fully aligned with the Government of India’s renewable energy targets.
ENGIE India celebrates a significant milestone as it marks 10 years of operations in the country. Throughout this journey, ENGIE has been committed to implementing comprehensive sustainability and corporate social responsibility (CSR) initiatives in the areas of education, health, and well-being. Certified as Great Place to Work, ENGIE India remains dedicated to fostering a positive and inclusive work environment for its employees. ENGIE in India has received several rewards and recognition, including the best large-scale solar PV project in 2020 and 2022, signing/executing India’s best renewable energy deal of the year in 2020, and being amongst the top influencers in the solar industry in 2021.
