The Gujarat Electricity Regulatory Commission (GERC) has approved a petition from GIFT Power Company Ltd (GIFTPCL) to extend its short-term power purchase agreement (PPA) with PTC India for round-the-clock renewable power supply.
The extension will cover the period from June 1, 2025, to May 31, 2026. The revised tariff has been set at ₹5.20 per unit under the Medium Term Open Access (MTOA) framework.
GIFTPCL supplies electricity in the GIFT City area. The extension was sought to ensure uninterrupted green power supply until its new hybrid renewable plant becomes operational in June 2026. The company has already set up a 4.95 MW solar plant and signed a PPA for 9.9 MW of hybrid power with Prozeal Green Energy.
The revised rate of ₹5.20 per unit is lower than the previous price of ₹5.40 per unit. It is also cheaper than power purchased from the Day-Ahead Market, which often costs around ₹5.87 per unit. The petition noted that this extension would help consumers avoid price spikes, especially during evenings and peak load times.
The extension was approved under Clause 25 of the original PPA, which allows changes through mutual agreement. GERC also accepted that market conditions justify non-competitive procurement under a Memorandum of Understanding (MoU) route.
In its June 13 order, GERC acknowledged that the extension ensures a continuous power supply and meets economic standards when compared to market alternatives. All other terms of the original PPA, signed on September 3, 2024, will remain unchanged.
GIFTPCL has been asked to submit the signed supplemental PPA within 30 days, along with proof of compliance.
This approval supports Gujarat’s goal of improving renewable energy usage through reliable, transitional green power.
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