Gujarat Industries Power Company

Company, jointly promoted by Gujarat Electricity Board (GEB) [now Gujarat Urja Vikas Nigam Limited (GUVNL)], Gujarat Alkalies and Chemicals Limited (GACL), Gujarat State Fertilizers and Chemicals Limited (GSFC) and Petrofils Co-operation Limited (PCL) to cater to their captive power requirements, has completed Thirty-Nine years on 01st June, 2024, since its establishment in the year 1985.
Company is dependent on the domestic market for its business and revenues.
The Company’s power generating facilities are located in the State of Gujarat and the entire revenue of the Company is derived from the domestic market.

Company, which began as the first group captive power plant in the country, has transformed into a dynamic Independent Power Producer (IPP) with total installed generation capacity of 1184.4 MW including RE capacity of 374.4 MW.

Phase-I (2 x 125 MW Units 1 & 2): During the year under review, Phase–I generated 1468.336 Million Units (MUs) with 66.86% Plant Load Factor (PLF) against the Budgeted target of 1611.500 MUs with 73.38% PLF.
Plant availability was 79.03% against the Budgeted target of 84.33%.
Commercial availability was 67.41% against the Budgeted target of 74.13%.
The overall Plant Performance is better in comparison to the previous year corresponding period.
Phase-II (2 x 125 MW Units 3 & 4): During the year under review, Phase-II generated 1616.710 MUs with 73.62% PLF against the Budgeted target of 1713.568 MUs with 78.03% PLF. Plant availability was 81.51% against the Budgeted target of 86.55%. Commercial availability was 76.64% against the Budgeted target of 80.32%.
Plant Performance was affected mainly due to increase in Unit outages. Unit-3 Planned Outage was taken from 05/08/2023 to 20/09/2023 for Overhauling.
The overall Plant Performance is better in comparison to the previous year corresponding period. Constant endeavors are being made to improve the overall performance of the Units, including technology improvement and modifications.
The required maintenance program for the upkeep of the Units was undertaken during the year under review.

During the year under review, Valia Lignite Mine has recorded the lignite production of 25.73 Lakh Te as against 25.31 Lakh Te during the preceding year and Vastan Lignite Mine has recorded the lignite production of 4.70 Lakh Te as against 5.17 Lakh Te during the preceding year. Most of the requirement of lignite was met from captive Vastan Lignite Mine and Mangrol-Valia Lignite Mine.
To meet the demand of all the four units for operations during monsoon, the Lignite Stock of 11.98 Lakh Te was created on 30/06/2023 as against the previous year’s stock of 11.40 Lakh Te on 30/06/2022.

Station- I (145 MW): Station was not in operation during the year under review due to non-availability of APM gas/cheaper Spot gas.
Station – II (165 MW): Station II was also not in operation during the year under review due to non-availability of cheap Spot gas.

GIPCL is pursuing growth in the entire value chain of the power generation business through enhancement of Renewable and thermal generating capacity as well as pursuit of opportunities to set up Renewable Energy Parks, Renewable Projects along with Storage Solutions for Utility and Non-Utility Sale through Group Captive Mode or Sale to C & I Customers.
GIPCL also proposed to participate in Pumped Storage Projects and Off-shore Wind Generation Projects in tandem with the objectives of the State and Central Government.
In line with the goals GIPCL is exploring the partnership with Central PSUs and signed MoU with State Government for development of 2375MW Khavda RE Park.
Growth Plans:
2375 MW Khavda Renewable Energy (RE) Park:

Directors are pleased to inform that Company has been allotted land at Great Rann of Kutch near Khavda to set up 2375 MW of Renewable Energy (RE) Park.
This Park is being developed as a part of prestigious 30 GW RE Park planned near International Border in Great Rann of Kutch. Ministry of New & Renewable Energy (MNRE) has approved entire RE park under Ultra Mega Renewable Energy Power Project (UMREPP) Mode-8 to avail benefit of Central Financial Assistance (CFA).
The major work orders for developing RE park infrastructure such as Pooling sub-stations, internal roads & drains have been issue. Construction work at site is under progress.
Critical equipment’s like power Transformers, GIS switchgears etc. for 1200 MW Pooling Sub-station 1( PSS1) have already been received at site. Almost 95% of internal road works have been completed. Construction work for dedicated 400 KV Transmission Line is under progress.
The entire RE Park capacity is expected to be completed by December 2026 in a phase manner.

Directors are pleased to inform that your Company has successfully bid for 600 MW Solar Power Project under Green shoe option of Gujarat Urja Vikas Nigam Limited (GUVNL) Tender. The Company has received the Letter of Intent (LoI) for the project from GUVNL in the month of May 2023 and PPA has been signed in August 2023.
The Company has appointed M/s. Tata Consulting Engineers (M/s TCE) as Project Management Consultant and work order for Balance of System (BoS) package and supply of Solar PV Modules have been issued.
The site is fully mobilized and Construction work for BoS package is under progress.
The supply of critical equipment for the projects have been tied up by the EPC contractor.
The Connectivity for power evacuation for the project is already obtained from CTUIL for the project.

Directors are pleased to inform that your Company has signed PPA with GUVNL for 500 MW Solar PV project at Khavda RE Park in the month of October 2023.
The PPA is currently under approval, of GERC.The Tender for BoS package is floated.
The land for the project is in possession and power evacuation connectivity has been obtained. 75 MW Solar Power Project at Vastan – Near Surat Lignite Power Plant.
Directors are pleased to inform that, your Company is setting up 75 MW Solar Power Project at Village Vastan District Surat for captive requirement of M/s GSFC and M/s GACL who are the Promoters of the Company.
EPC Contract has been awarded for this Project on 22nd April, 2024 with completion period of 11 months.
Necessary clearances for land use and approval for Grid connectivity has been obtained. EPC Contractor has mobilized at site and started construction activity