Powerica’s discovered tariff for the project stood at ₹3.85 per unit. The company said the Letter of Award (LOA) is expected to be issued within the stipulated timelines prescribed under the tender document.
ALSO READ | Powerica IPO sees muted response; GMP slips, subscription remains weakFollowing the Letter of Award, Powerica will enter into a Power Purchase Agreement (PPA) with SECI for the project. The company said it will use its in-house engineering capabilities to execute the project and ensure delivery within the timelines specified in the tender framework.
Last week, Powerica Ltd said it had emerged as the winning bidder in the e-reverse auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL) for procurement of power from grid-connected wind power projects.
The company secured a 50 MW wind power project under Gujarat Urja Vikas Nigam Ltd’s 250 MW grid-connected Wind Power Projects tender. The electronic reverse auction was completed on July 9, 2026.ALSO READ | Powerica IPO: Chairman Bharat Oberoi bets on data centres, wind power to drive growth
Powerica’s discovered tariff for the project stood at ₹3.51 per unit, representing a 2.77% variance compared with the tender start price. The company said the Letter of Award is expected to be issued within the timelines specified in the tender document.
Under the tender framework, Powerica will enter into a direct Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Ltd. The power generated from the 50 MW allocation will support GUVNL in meeting its Renewable Purchase Obligations (RPO).
After receiving the Letter of Award, Powerica will execute the project using its in-house engineering capabilities and complete the project within the timelines prescribed under the tender.
Shares of Powerica Ltd ended at ₹575.30, up by ₹8.80, or 1.55%, on the BSE.
ALSO READ | Powerica shares see weak debut on exchanges, list at 7% discount
