New Delhi: Gujarat Urja Vikas Nigam Ltd (GUVNL) has signed an agreement with NLC India Limited's subsidiary to purchase power from its upcoming 600 MW solar project in Gujarat.

The subsidiary, NLC India Green Energy Ltd (NIGEL), has signed the power purchase agreement with GUVNL for the proposed Khavda Solar Park in Bhuj district.

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The entire power from the project will be procured by GUVNL at a tariff of Rs 2.705/kWhr (kilowatt hour), NLC India Ltd (NLCIL) said in a BSE filing.

The project is expected to generate 1,577.88 million units of green energy every year and 39.447 billion units on a cumulative basis over its lifetime, offsetting around 35.5 million metric tonne of Co2 emissions.

NIGEL Chairman Prasanna Kumar Motupalli said, "The project has the benefit of being established in a solar park with readily available infrastructure and with payment security for power sold."

The company claimed that the project will be the single largest solar project to be developed by NLCIL.

NLCIL, under Ministry of Coal, is into lignite production and thermal and renewable energy generation.

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