Powerica wins 50 MW wind power project from Gujarat Urja Vikas at ₹3.51/unit tariff

Power solutions provider Powerica Ltd on Friday (July 10) said it has emerged as the winning bidder in the e-reverse auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL) for procurement of power from grid-connected wind power projects.

The company secured a 50 MW wind power project under Gujarat Urja Vikas Nigam Ltd's 250 MW grid-connected Wind Power Projects tender. The electronic reverse auction was completed on July 9, 2026.

Powerica’s discovered tariff for the project stood at ₹3.51 per unit, representing a 2.77% variance compared with the tender start price. The company said the Letter of Award is expected to be issued within the timelines specified in the tender document.

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Under the tender framework, Powerica will enter into a direct Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Ltd. The power generated from the 50 MW allocation will support GUVNL in meeting its Renewable Purchase Obligations (RPO).

After receiving the Letter of Award, Powerica will execute the project using its in-house engineering capabilities and complete the project within the timelines prescribed under the tender.

Back in April this year, Bharat Oberoi, CMD of Powerica, said the company’s growth plans remain firmly on track, driven by its genset business and expanding wind energy portfolio.

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He expects the genset segment to deliver a compounded annual growth of 10–11%, while the wind business is likely to sustain EBITDA margins in the range of 65–70% going ahead. Bharat Oberoi added, “This year we ended up with about close to ₹100 crores and EBITDA margins being at the same percentage.”

Powerica began its diesel generator sets business in 1984 and expanded into medium-speed large generators (MSLG) in 1996. It currently offers generator sets ranging from 7.5 kVA to 10,000 kVA. Its business includes diesel generator sets powered by Cummins engines, MSLG offerings in collaboration with Hyundai, and allied activities.

Shares of Powerica Ltd ended at ₹565.80, down by ₹3.45, or 0.61%, on the BSE.

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