Madhav Infra Projects announced that they had received a letter of intent (LoI) from Gujarat Industries Power Company (GIPCL) for a solar power generation project valued at Rs 3.29 billion.

According to the terms of the agreement, Madhav Infra Projects would be responsible for implementing a 75MW (AC) solar power project at Vastan near SLPP Tal-Mangrol in Surat district of Gujarat.

The company stated in a regulatory filing that the scope of work included the design, engineering, supply, construction, erection, testing, commissioning, and three years of operation and maintenance of the solar power facility on an engineering, procurement, and construction (EPC) basis.