Gujarat State Petroleum Corporation Ltd. (GSPC) is to sign a memorandum of understanding (MoU) with the Gujarat government at the next week's investors' summit to set up 200 megawatt (MW) wind power plant. The values of the project is INR12 billion. After completing the necessary formalities like technical and financial scrutiny of the bids contract will be awarded to the selected bidder.

The two-day Vibrant Gujarat Global Investors’ Summit (VGGIS) 2009 begins here from January 12, 2009. We had invited bids for setting up a 200 MW wind plant in the state to which 12 companies have responded. The project winner will be disclosed on January 12, said a senior official from GSPC.

Suzlon, Vestas, Theolia, Globalwind, Abellon and Enarcon have submitted bid for the project.

According to the bid condition, the company, which wins the project would commission the plant within six months from the date of being awarded the contract. The same company will develop and operate the wind power plant for 10 years. Selection of location, acquisition of land and arranging financial resources will also be done by the company, said the GSPC official.