KPI Green Energy Limited has achieved a significant milestone by energising an additional 35 MWp of solar capacity, bringing its total operational IPP capacity to 589 MWp. The company maintains a robust pipeline with 1,582 MWp currently under development, positioning it to expand its total IPP portfolio to 2.17 GWp in the near term.

Operational Capacity Overview

The latest capacity addition strengthens KPI Green Energy's position as a leading Independent Power Producer with substantial operational assets:

Major Project Developments

200 MW Khavda Solar IPP Project

The company successfully commissioned its 200 MW (240 MWp) solar IPP project at Khavda Solar Park (South Block), making it among the early operational projects within the 1.8 GW solar park developed by GSECL. The project operates under a long-term Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited (GUVNL).

50 MW Hybrid Renewable Energy Project

KPI Green achieved grid synchronisation and power injection ahead of schedule for its 92.15 MWp hybrid project, comprising 16.95 MW wind capacity and 75.2 MWp solar capacity. This early commissioning demonstrates the company's execution capabilities in complex hybrid renewable projects.

GUVNL Portfolio Progress

The company continues execution of its 620 MW/917 MWp hybrid renewable energy IPP portfolio under two long-term PPAs with GUVNL:

Energy Storage Expansion

Sun Drops Energia Limited, a KPI Green subsidiary, executed a Battery Energy Storage Purchase Agreement (BESPA) with GUVNL for 445 MW/890 MWh of standalone battery energy storage systems. This marks the company's strategic entry into utility-scale energy storage, enhancing grid-stability and energy-management capabilities alongside renewable generation.

Strategic Business Model

The expanded portfolio underscores KPI Green Energy's robust and sustainable annuity revenue stream from long-term contracted projects under Power Purchase Agreements, many with tenures of up to 25 years. This reinforces the company's strategic transition toward an asset-backed Independent Power Producer model, complemented by its established EPC expertise.

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.