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Gujarat Industries Power Approves Key Contracts and Debt Syndication for Solar Projects

Updated on: Dec 18, 2024, 5:40 PM IST
Gujarat Industries Power Company approves EPC contract for 500 MW solar project and debt syndication for two solar power projects in Gujarat.
Gujarat Industries Power Approves Key Contracts and Debt Syndication for Solar Projects
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In its recent board meeting, Gujarat Industries Power Company approved the award of an EPC contract for a 500 MW solar project and debt syndication for two solar power projects in Gujarat.

Overview of GIPCL’s Solar Approvals

Gujarat Industries Power Company (GIPCL) held its Board of Directors meeting on December 17, 2024, where it approved several key decisions aimed at expanding its solar energy portfolio.

The board approved the award of an Engineering, Procurement, and Construction (EPC) contract for the Balance of System (BoS) package for the implementation of a 500 MW (AC) Solar Photovoltaic (PV) project at Khavda, located in the Great Rann of Kutch, Gujarat.

GIPCL Greenlights Debt Syndication for Solar Projects

In addition, the board gave the green light for debt syndication to secure a term loan for two significant solar projects: the 500 MW Solar Power Project (Phase-II) at Khavda and a 75 MW Solar Power Project at Vastan, Gujarat. These moves are part of the company’s strategy to strengthen its renewable energy capabilities.

The meeting commenced at 4:00 PM and concluded at 5:30 PM The company has requested stakeholders to acknowledge receipt of this information.

Share Price Performance

On December 18, 2024, Gujarat Industries Power Company’s share price traded 0.46% higher at ₹260 as of 11:30 AM on the NSE. The stock opened at ₹262, higher than the previous close of ₹258.80. Gujarat Industries Power Company is extending its three-session rally today.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 18, 2024, 11:34 AM IST

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