Gujarat Industries Power has been allocated with land for developing 2375 MW Renewable Energy Park in Gujarat.
According to the company's regulatory filing, Gujarat Industries Power has received approval from the District Collector, Kutch, Gujarat for the allotment of land admeasuring 4750 HA for development of 2375 MW Renewable EnergyPark (i.. Wind/Solar/Wind-Solar Hybrid) at Village Khavda, District Kutch, Gujarat.
The land is granted for 40 years on a leasehold basis and barring unforeseen circumstances, with the scheduled completion of at least 50% of the total capacity within 3 years and 100% completion of total capacity within 5 years.
The company's stock ended at Rs80.10 per piece up 3.22% on Sensex.