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 Limited has achieved a significant milestone by commencing power supply from its 92.15 MWp IPP Hybrid Power Project awarded by Gujarat Urja Vikas Nigam Limited (GUVNL) well ahead of schedule. The project has successfully achieved grid synchronization and begun power injection into the state grid, demonstrating the company's strong execution capabilities and integrated project development expertise.

Project Specifications and Capacity

The hybrid renewable energy project represents a strategic combination of wind and solar power generation technologies. The project specifications highlight the company's comprehensive approach to renewable energy development.

Early Commissioning and Grid Integration

The project has commenced power generation and supply to the state grid significantly ahead of the scheduled project completion timeline of July 2026. This early achievement reflects KPI Green Energy Limited's strong execution capabilities and demonstrates the company's ability to deliver large-scale renewable energy projects within accelerated timeframes. The successful grid synchronization marks the beginning of sustained revenue contribution from this strategic asset.

Financial Impact and Revenue Generation

With the commencement of power generation, the project is expected to begin contributing to the company's revenue on a sustained basis in accordance with the long-term Power Purchase Agreement executed with GUVNL. The contracted nature of the project provides several financial advantages for the company's growth trajectory.

Management Commentary

Dr. Faruk G. Patel, Chairman & Managing Director of KPI Green Energy Limited, emphasized the significance of this achievement: "The early start of power supply from this Hybrid IPP project for GUVNL demonstrates our team's strong execution capabilities and our continued focus on timely delivery of large-scale renewable energy projects. Hybrid solutions play an important role in enhancing generation reliability, and this milestone reinforces our position as a trusted renewable energy partner for state utilities."

Strategic Positioning and Future Outlook

The project reinforces KPI Green Energy Limited's focus on expanding its presence across wind, solar, and hybrid power segments while supporting grid stability through complementary renewable generation sources. This development aligns with the company's strategic objective of building a diversified and resilient renewable energy portfolio. The successful early commissioning demonstrates the company's capability to execute complex hybrid renewable energy projects and positions it as a reliable partner for state utilities seeking sustainable energy solutions.