Shares of Powerica Limited opened 3% higher on 3 August after the company announced that it has signed a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 100-megawatt (MW) wind power project in Gujarat.

The agreement marks another important milestone in the company’s renewable energy expansion and provides long-term revenue visibility through a fixed power tariff. Under the agreement, electricity generated from the project will be supplied to GUVNL at a fixed tariff of Rs 3.44 per kWh. The wind farm will be developed in Botad district, Gujarat, and is expected to be completed within 24 months.

The project will be equipped with 28 onshore wind turbines supplied by GE Vernova, each with a capacity of 3.8 MW. Earlier this year, GE Vernova announced that the Botad project would be the first deployment of its new 3.8 MW wind turbine platform in India, supporting the country’s growing renewable energy sector.

The latest PPA further strengthens Powerica’s position as an independent power producer. The company already operates a sizable portfolio of wind power projects in Gujarat and has been steadily expanding its renewable energy business through competitive government auctions and long-term supply agreements.

The agreement also aligns with India’s broader goal of increasing the share of renewable energy in its electricity mix. Long-term PPAs provide developers with stable cash flows while helping distribution companies secure clean power at predictable prices.

With the 100 MW project now backed by a 25-year PPA, Powerica is expected to strengthen its renewable energy portfolio and create another long-term revenue stream. The project also highlights continued investment in wind energy as India accelerates its transition towards cleaner sources of electricity.

However, at 12:55 pm, the shares of Powerica shed all their early gains and were trading 1.14% lower at Rs 523.55 on the NSE.

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