The company was declared the winning bidder in SECI’s tender for the procurement of power from 2,000 MW grid-connected wind power initiatives. The electronic reverse auction concluded on July 15, 2026, during which Powerica submitted its competitive bid.
Powerica’s discovered tariff for this project is ₹3.85 per unit. The company mentioned that the Letter of Award (LOA) is anticipated to be issued within the prescribed timelines outlined in the tender document.
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Upon receiving the Letter of Award, Powerica will establish a Power Purchase Agreement (PPA) with SECI for the project. The company plans to leverage its in-house engineering expertise to execute the project and ensure timely delivery as specified in the tender framework.
Last week, Powerica Ltd reported that it had emerged victorious in the e-reverse auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL) for the procurement of power from grid-connected wind power projects.
The company won a 50 MW wind power project under GUVNL’s 250 MW grid-connected Wind Power Projects tender. The electronic reverse auction was finalized on July 9, 2026.
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Powerica’s tarified discovered for this project is ₹3.51 per unit, reflecting a 2.77% variance compared to the tender start price. The company stated that the Letter of Award is expected to be issued within the timelines specified in the tender document.
As part of the tender framework, Powerica will form a direct Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Ltd. The power generated from the 50 MW allocation will assist GUVNL in fulfilling its Renewable Purchase Obligations (RPO).
Once the Letter of Award is received, Powerica will execute the project using its in-house engineering capabilities and ensure completion within the timelines stipulated in the tender.
Shares of Powerica Ltd closed at ₹575.30, increasing by ₹8.80, or 1.55%, on the BSE.
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