KPI Green Energy has updated its execution progress across a 2.57 GWp independent power producer (IPP) portfolio, marking significant capacity additions in Gujarat.

The company disclosed that approximately 1.16 GWp is already energized, with the remaining ~1.41 GWp under active execution. This expansion reinforces its transition toward an asset-backed IPP model supported by long-term Power Purchase Agreements (PPAs), primarily with tenures up to 25 years.

Project Execution Updates

The latest developments include the commissioning of major solar and hybrid assets, alongside progress on wind and battery storage projects.

Solar and Hybrid Commissions

• Khavda Solar Project: The company commissioned and began injecting power from its 200 MW / 240 MWp solar IPP project at the Khavda Solar Park (South Block). The project operates under a long-term PPA with Gujarat Urja Vikas Nigam Limited (GUVNL).
• Hybrid Project: KPI Green achieved grid synchronization and power injection ahead of the scheduled July 2026 commercial operation date for its 50 MW / 92.15 MWp hybrid project. This facility comprises 16.95 MW of wind capacity and 75.2 MWp of solar capacity, also connected via PPA with GUVNL.

Ongoing Large-Scale Projects

In October 2024, the company executed two long-term PPAs with GUVNL for renewable capacity totaling 620 MW / 1027 MWp. Progress includes:

Wind and Battery Storage Pipeline

• Wind Projects: A 150 MW wind project has achieved financial closure and is expected to be commissioned within the schedule timeline. Additionally, PPA signing is underway for a 300 MW wind IPP project.
• Battery Energy Storage: Sun Drops Energia Limited, a subsidiary focused on energy storage, executed Battery Energy Storage Purchase Agreements (BESPA) with GUVNL for two standalone projects. These projects have a cumulative capacity of 565 MW / 1130 MWh, expanding the company’s utility-scale storage capabilities.

What the Numbers Show

The portfolio composition reveals a strategic diversification beyond pure generation. With 1.16 GWp energized against a total 2.57 GWp pipeline, nearly 45% of the announced capacity remains under execution. The addition of 565 MW / 1130 MWh in battery storage indicates a move toward integrated energy solutions, complementing the renewable generation assets to address grid stability requirements.

KPI Green Energy Limited announced the energization of 630+ MW DC capacity in the June-August quarter of FY27. This marks the highest single-quarter capacity addition in the company’s history.

The Gujarat-based renewable energy firm achieved this milestone across its Independent Power Producer (IPP) and Engineering, Procurement, and Construction (EPC/CPP) businesses. The company disclosed this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Scale of Execution

The Q2FY27 energization figure exceeds the total capacity KPI Green Energy had added cumulatively over its first ~17 years of operation. As of December 2024, the company’s total energized capacity stood at 533 MW across both IPP and EPC segments.

Dr. Faruk G. Patel, Chairman and Managing Director, stated that the pace of capacity addition reflects the execution capability built across both business verticals. He emphasized the company’s focus on scaling responsibly and strengthening its annuity income base.

Strategic Context

This quarter’s performance supports KP Group’s broader target of achieving over 10 GW of renewable capacity by 2030. The diversified mix of IPP assets and EPC projects underscores the scale and consistency of the company’s project execution engine.

What the Numbers Show

The magnitude of the Q2FY27 addition highlights a significant acceleration in execution velocity. Energizing more than 630 MW in three months compared to just 533 MW over nearly two decades indicates a structural shift in the company’s project delivery capacity rather than linear growth.