Powerica gets letter of intent for 50 MW wind project from GUVNL

The letter of intent in numbers

What the letter covers and what it does not

The filing says GUVNL has issued a letter of intent for the supply of power from a 50 MW wind power project in Gujarat. A letter of intent comes before a contract. The filing says the PPA is still to be executed, within 15 business days of the Gujarat Electricity Regulatory Commission (GERC) adopting the tariff.

The filing does not state the total value of the contract, the cost of the project or how it will be funded. It says Powerica has no promoter or group interest in GUVNL, and that the arrangement is not a related-party transaction.

Context from the company’s recent results

For context, Powerica’s latest quarter is Q1 FY27, the quarter ended 30 Jun 2026. Consolidated revenue was ₹798.56 crore and net profit was ₹64.43 crore. In the previous quarter, Q4 FY26, consolidated revenue was ₹805.17 crore and net profit was ₹45.11 crore.

The filing says the intimation is also on the company’s website. Our records show no other recent filing from Powerica, so this letter is the only recent event on record.

What the letter means for Powerica’s shareholders

The letter is an early step toward a supply contract, and the filing says the PPA is yet to be executed. The filing does not give the project’s cost, its funding or an expected commissioning date within the 24-month limit. What the project will mean for the company’s earnings is not known from the filing. The next dated step the filing gives is the PPA, due within 15 business days of GERC adopting the tariff, a date that has not been fixed.

Reference: Original filing (PDF)