KPI Green Energy Limited has successfully executed a Battery Energy Storage Purchase Agreement (BESPA) through its subsidiary Sun Drops Energia Limited with Gujarat Urja Vikas Nigam Limited (GUVNL). This significant development marks the company's formal entry into utility-scale Independent Power Producer (IPP) Battery Energy Storage System projects.

Project Details and Capacity

The executed agreement encompasses the development of standalone Battery Energy Storage System (BESS) projects with substantial capacity across Gujarat state.

Agreement Background and Process

The BESPA execution follows a structured procurement process initiated by GUVNL. The company had previously received a Letter of Intent (LOI) from GUVNL on January 3, 2026, for the development of self-owned IPP Standalone Battery Energy Storage System projects.

The agreement stems from a tariff-based competitive bidding process conducted by GUVNL for procurement of Standalone BESS capacity under Phase-VII. The project benefits from Viability Gap Funding (VGF) support through the Power System Development Fund (PSDF), enhancing the project's financial viability.

Operational Framework

Under the terms of the BESPA, Sun Drops Energia Limited will undertake comprehensive project responsibilities including development, ownership, and operation of the standalone BESS projects. The company will make the contracted battery energy storage capacity available to GUVNL on a long-term basis, ensuring reliable energy storage services.

The projects will be developed across multiple locations within Gujarat state, providing strategic distribution of energy storage capacity to support the state's power grid requirements.

Strategic Significance

This agreement represents a pivotal milestone for the KPI Green Energy Group as it formally transitions into the implementation phase of its first utility-scale IPP Battery Energy Storage System project. The development strengthens the company's presence across emerging segments of the renewable energy ecosystem, positioning it strategically in the growing energy storage market.

The execution of the BESPA demonstrates the company's capability to secure and execute large-scale energy storage projects, expanding its renewable energy portfolio beyond traditional solar and wind projects into advanced energy storage solutions.

KPI Green Energy Limited has announced the successful completion of a significant wind power project in Gujarat, marking another milestone in India's renewable energy expansion. The company completed a 92.4 MW wind power project for Ayana Renewable Power Four at Nakhatrana, Bhuj, Gujarat, as disclosed under Regulation 30 of SEBI regulations on February 20, 2026.

Project Specifications and Infrastructure

The wind power project encompasses comprehensive infrastructure development with significant technical specifications:

Scope of Work and Technical Execution

KPI Green Energy Limited completed all works under its comprehensive project scope, demonstrating its technical capabilities across multiple infrastructure components. The company's execution included:

• Balance of Plant (BOP) infrastructure development
• Power Substation (PSS) construction and commissioning
• EHV transmission line installation
• Complete erection and installation of wind turbine generators

The project has received the requisite Central Electricity Authority (CEA) approval, ensuring compliance with regulatory standards and operational readiness.

Strategic Impact on Renewable Energy Sector

The successful completion of this wind power project reflects KPI Green Energy Limited's execution capabilities in delivering large-scale and complex renewable energy infrastructure projects. The project contributes to India's clean energy transition while strengthening the country's renewable power capacity.

The 92.4 MW addition to Gujarat's wind power capacity aligns with the state's renewable energy objectives and supports the national clean energy agenda. The project's location in Nakhatrana, Bhuj, leverages the region's favorable wind resources for optimal power generation.

Company's Project Delivery Excellence

The completion of this comprehensive wind power project demonstrates KPI Green Energy Limited's technical expertise across the entire project lifecycle. From infrastructure development to turbine installation, the company has showcased its ability to handle complex renewable energy projects with multiple technical components.

The project's successful execution, combined with regulatory approvals, positions the company as a reliable partner for large-scale renewable energy infrastructure development in India's growing clean energy sector.