New Delhi: State-owned Gujarat Mineral Development Corporation (GMDC) on Tuesday said it has entered into a power purchase agreement with Gujarat Urja Vikas Nigam Ltd (GUVNL).
Gujarat Electricity Regulatory Commission (GERC) recently approved crucial amendments to the power purchase agreement (PPA) of GMDC.
In a statement, GMDC said these amendments governing the supply of 250 MW of power from the Akrimota Thermal Power Station (ATPS) between Gujarat Mineral Development Corporation and GUVNL, mark a leap towards enhancing operational efficiency and sustainability.
"GMDC's proactive and calculated rescaling of the ATPS represents a significant milestone in the company's effort to safeguard the interests of its investors. This initiative signifies a substantial progress towards ensuring the turnaround and sustainable profitability of GMDC's power asset which was continually under stress earlier," GMDC Managing Director Roopwant Singh said.
GMDC is one of the leading mining players in the country. The state-owned company has five operational lignite mines in Kutch, South Gujarat, and the Bhavnagar region.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)