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Vaghani’s Solar Spark: 4 MW Pact with UGVCL Lights Up Rs 21.3 Million Opportunity

Updated: July 23, 2025 18:13

Image Source : TradingView
Vaghani Techno Build Ltd has signed a power purchase agreement with Uttar Gujarat Vij Company Ltd (UGVCL) for a 4 MW solar power project, marking a strategic shift into renewable energy.
 
Project details:
 
- The agreement falls under Gujarat’s Distributed Renewable Energy Bilateral Purchase (DREBP) scheme
 
- The solar installation is expected to generate Rs 21.3 million in annual revenue, enhancing the company’s recurring income stream
 
- Power will be supplied to UGVCL under regulated tariffs, contributing to the DISCOM’s Renewable Purchase Obligations
 
- The project will be grid-connected via GETCO infrastructure, with delivery at 11 KV or 66 KV substation levels
 
- Vaghani will retain carbon credit rights and operate the plant under a 25-year contract term
 
Strategic context:
 
- This marks Vaghani’s diversification beyond real estate and TDR trading into clean energy
 
- The move aligns with Gujarat’s 2023 renewable energy policy and positions the company for future green infrastructure bids
 
Sources: Rediff MoneyWiz, UGVCL Draft PPA, Screener.in, Value Research Online, SEBI Public Disclosures

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