KPI Green secures Letters of Intent for 917 MW DC of solar, hybrid RE projects

KPI Green Energy has announced that it has emerged as a successful winner in GUVNL’s auction for 500 MW of grid-connected solar PV projects to be set up anywhere in India with greenshoe option of additional capacity up to 500 MW. It won a base capacity of 120 MW AC (132 MW DC) and, as part of the Greenshoe Option, accepted the proposal for an additional 120 MW AC (132 MW DC) along with 10 MW AC (11 MW DC) additional capacity, thereby securing the cumulative solar capacity of 250 MW AC (275 MW DC).

The company has also emerged as a winner in GUVNL’s auction for 500 MW of grid-connected hybrid RE power projects with greenshoe option of additional capacity up to 500 MW. It secured a base capacity of 50 MW AC (87 MW DC) and, as part of the Greenshoe Option, accepted the proposal for an additional 50 MW AC (87 MW DC) along with 270 MW AC (468 MW DC) additional Greenshoe capacity, thereby securing the cumulative capacity of 370 MW AC (642 MW DC) grid-connected hybrid RE power project.

KPI Green stated that it had received the Letters of Intent for both solar and hybrid RE projects. The power purchase agreements (PPAs) with GUVNL shall be executed after obtaining the approval of the Gujarat Electricity Regulatory Commission (GERC).

With these capacity additions, KPI Green’s cumulative portfolio of renewable energy will soar to 2,800+ MW, out of which 1,432+ MW is under the independent power producer (IPP) segment and 1,368+ MW under the captive power producer (CPP) segment.

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