KPI Green Energy 's subsidiary Sun Drops Energia Private Limited has achieved a significant milestone by securing a Letter of Intent from Gujarat Urja Vikas Nigam Limited for developing standalone Battery Energy Storage System projects with an aggregate capacity of 445 MW/890 MWh. The project will be implemented across multiple locations in Gujarat state, representing a strategic expansion into the battery energy storage segment for the renewable energy company.

Project Details and Significance

The Letter of Intent was issued following a tariff-based competitive bidding process under Phase-VII, supported by Viability Gap Funding through the Power System Development Fund. This development marks two important firsts for KPI Green Energy: its maiden utility-scale IPP BESS project and its first BESS project awarded by a major government body.

Strategic Expansion into Energy Storage

Standalone Battery Energy Storage System projects are grid-connected energy storage facilities that operate independently of any specific solar or wind power plant. These systems are utilized by utilities to store electricity during off-peak periods and supply power during peak demand periods. The award underscores KPI Green Energy's expanding capabilities across emerging clean energy segments and represents a strategic addition to its existing renewable energy portfolio of solar, wind and hybrid power projects.

Regulatory Compliance and Documentation

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The project involves no related party transactions, and the promoter group has no interest in the awarding entity. The execution timeline will follow the project schedule and terms of the Battery Energy Storage Purchase Agreement.

Market Impact and Future Outlook

Standalone BESS projects of this scale are emerging as critical infrastructure for grid reliability, peak power management, and renewable energy integration. The award reflects KPI Green Energy's growing capabilities to participate in large-scale, policy-backed infrastructure projects within the evolving clean energy ecosystem. This expansion into battery energy storage systems positions the company to capitalize on the increasing demand for grid stability solutions as renewable energy penetration grows across India's power sector.

KPI Green Energy has witnessed a substantial share acquisition by its promoter group, with Quyosh Energia Private Limited purchasing 15,99,029 shares through open market transactions between December 29-31, 2025. This significant investment by the promoter group entity demonstrates strong confidence in the renewable energy company's prospects.

Share Acquisition Details

The acquisition was executed by Quyosh Energia Private Limited, a promoter group entity of KPI Green Energy Limited, through systematic open market purchases over a three-day period. The transaction represents a notable increase in the entity's shareholding from a minimal base.

Shareholding Pattern Changes

The acquisition has resulted in a significant change in Quyosh Energia Private Limited's shareholding pattern. Prior to this transaction, the entity held merely 500 shares representing 0.00% of the company's equity. Following the acquisition, its total holding has increased to 15,99,529 shares, representing 0.81% of KPI Green Energy's total share capital.

Regulatory Compliance

The transaction has been disclosed in compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was filed on January 2, 2026, with both BSE Limited and National Stock Exchange of India Limited, where KPI Green Energy's shares are listed under scrip code 542323 and symbol KPIGREEN respectively.

The company's equity share capital remains unchanged at ₹98.67 crores, divided into 19,73,41,073 equity shares of ₹5 each. The total diluted share capital stands at ₹99.35 crores, comprising 19,86,93,996 equity shares, accounting for potential conversion of outstanding convertible securities.