Gujarat Urja issues LoI to three power companies

Gujarat Urja Vikas Nigam Ltd (GUVNL) has issued Letters of Intent (LoI) to Vardha Power, Shapoorji Pallonji and Essar Power companies for long-term power supply to the state utility in Gujarat.
This has been done after finalising the bids, LoI has been issued to KSK Energy's subsidiary Vardha Power for 1,010 MW at Rs 2.34 per unit, Shapoorji Pallonji for 800 MW at Rs 2.80 per unit and Essar Power for 800 MW at Rs 2.80 per unit.
The bidders can sign the Power Purchase Agreement (PPA) with GUVNL within 45 days. The agreement will be valid for 25 years and price will remain unchanged for the entire period.

Source: Gujarat Urja issues LoI to three power companies