Gujarat Industries Power Company Limited (GIPCL) was incorporated in 1985 as a Public Limited company under the auspices of Government of Gujarat (GoG). The company was incorporated as a Public Limited Company with the Registrar of Companies, Gujarat under the Companies Act, 1956 and having its registered office at P.O. Ranoli, Vadodara, Gujarat, India and has listed its shares on BSE Limited and The National Stock Exchange (India) Limited.

The company has been promoted by leading Gujarat PSUs, namely GSFC, GACL and GUVNL. The company is engaged in the business of Electrical Power Generation. The company has a diversified portfolio of Thermal (Gas and Lignite), Wind and Solar Power Plant Assets in the state of Gujarat. GIPCL aims to transform itself into a formidable national level power sector enterprise.

The company commissioned its first power project, a 145 MW gas based Combined Cycle Power Plant at Vadodara in the year 1992. It was set up as an innovative concept of Group Captive Power Plant with the participation of industries and the state power utility as promoters. Power from this plant is distributed to its promoters in proportion to their original equity holding.

Thereafter the company commissioned a 165 MW dual fuel based Combined Cycle Power Plant at Baroda in 1997 which successfully operated as an IPP having a long term PPA with GUVNL for 20 years. Subsequently this plant has entered into a 5 year Power Purchase Agreement (PPA) with GUVNL for supply of power through Short Term Open Access in March 2019. 

It also commissioned a greenfield project of 2x125 MW Surat Lignite Power Plant (SLPP-I ) based on environment friendly CFBC technology at Nani Naroli, District Surat, Gujarat in November, 1999 having long Term PPA with GUVNL for 30 years. The capacity was further enhanced with the commissioning of another 2 x 125 MW (SLPP- II) with similar technology in April, 2010 having a long term PPA with GUVNL for 30 years. The lignite for these plants is sourced from the captive mines of Vastan, Mangrol and Valia.

In the recent years, the company aligned its growth strategy with the vision of GOI to have 175 GW Renewable Capacity by 2022. The company has successfully commissioned 112.4 MW Wind Generation capacity at various locations in Gujarat in the period 2015-17 having long Term PPA with GUVNL for 25 years with Feed-in Tariff.

The company has also established a number of Utility Scale Ground Mounted Solar PV Projects in Gujarat since the year 2012 onwards. The projects have long term PPAs of 25 years with SECI and GUVNL. The company has also commissioned a unique Distributed Agri Solar pilot project of 2 x 1 MW in April & May, 2016 for Govt. of Gujarat feeding solar energy directly into the distribution grid thereby eliminating T & D losses. The Company has successfully commissioned a 2 x 40 MW Solar Project in September, 2017 as well as a 75 MW Solar Power Project in June, 2019 at Gujarat Solar Park, Village Charanka, Dist.: Patan. The Company has commissioned the 100 MW Solar Project at the Raghanesda Solar Park, Banaskantha, Gujarat on August 10, 2021.

Business area of the company

The company is engaged in generation of power from gas, lignite, wind and solar. The Principal places of business are located in Gujarat, India.

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