Powertrac Group Signs 150 MW PPAs with PGVCL Under DREBP and PM-KUSUM-A Schemes
Powertrac Group has signed PPAs totalling 150 MW with Paschim Gujarat Vij Company under the Gujarat DREBP and PM-KUSUM-A schemes, marking a key step toward its 1 GW operational IPP capacity target by 2030. The company also announced a joint investment of INR 600 crore by Powertrac Industries and GTPL Hathway to develop these projects.
December 31, 2025. By Mrinmoy Dey
These PPAs have been executed under the Gujarat State Distributed Renewable Energy-Based Power (DREBP) Scheme and the PM-KUSUM-A Scheme, out of a total 404 MWp capacity applied for by the Group, the Group’s Chairman Kishorsinh Zala said in a social media post.
“This achievement is fully aligned with Powertrac Group’s clearly defined vision of achieving 1 GW of operational IPP capacity by 2030, further reinforcing its position as a fast-growing renewable energy platform in India,” he said.
He further announced a joint investment of INR 600 crore by Powertrac Industries and GTPL Hathway to develop these 150 MW solar projects.
The signed PPAs have been secured at a competitive tariff of INR 2.76 per unit for a tenure of 25 years, ensuring long-term revenue visibility, predictable cash flows, and strong project bankability, Zala stated.
“All projects are fully compliant with Domestic Content Requirement (DCR) norms and ALMM List-II regulations, underscoring Powertrac Group’s strict adherence to regulatory frameworks, quality standards, and domestic manufacturing mandates,” he said.
Powertrac Group, together with its strategic investment partners Pruthvi Telecasts, Eiffil Group, Parv Group, and DD Group, has committed an aggregate investment of approximately INR 1,696 crore towards the development and timely commissioning of these long-term, PPA-backed solar power projects, the post noted.
Powertrac Group has built a development pipeline of an additional 268 MW of distributed solar IPP projects. “These projects are currently at advanced stages and are expected to be converted into PPAs shortly under the DREBP and PM-KUSUM-A schemes, taking the Group’s near-term cumulative PPA capacity to over 404 MW,” Zala stated.
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