GSEG at a Glance
GSEG (Gujarat State Energy Generation Ltd.) is a Special Purpose Vehicle (SPV) formed by GSPC (Gujarat State Petroleum Corporation) to generate power in Gujarat by harnessing the eco-friendly and economical natural gas. GSEG is part of the GSPC Group's overall strategy of establishing a presence in both the upstream and downstream segments of the energy value chain. The company is committed to using innovative, advanced and reliable technology for producing gas-based power.
GSEG was set up in 1998 as a power generation company. GSEG owns and operates a gas based power plant in Hazira that was commissioned in 2002. The plant was set up to provide electricity for the Gujarat state grid, with all electricity currently produced at the plant sold to Gujarat Urja Vikas Nigam Limited (GUVNL), a Government of Gujarat owned electricity company.
GSEG is in the process of extending the capacity of its Hazira plant. It has entered into a gas purchase contract with us to provide the gas required for the expanded plant, effective for 20 years from commissioning, with the gas to be bought at mutually agreed prices. The additional power to be generated will be bought by GUVNL pursuant to a 20 year procurement contract effective from commissioning.