GMDC inks power purchase pact with GUVNL
Gujarat Electricity Regulatory Commission (GERC) recently approved crucial amendments to the power purchase agreement (PPA) of Gujarat Mineral Development Corporation (GMDC).
State-owned 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 Gujarat Mineral Development Corporation (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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.