KPI Green Energy emerged as winner in GUVNL’s tender

KPI Green Energy Limited has emerged as a winner for grid-connected solar PV project of 200 MW (AC) in Gujarat. The project is a part of 800 MW tender issued by Gujarat Urja Vikas Nigam Limited (GUVNL) to be developed at Gujarat State Electricity Corporation Limited’s Khavda solar park, stage 2.

The company has successfully secured the 100 MW (AC) base capacity and exercised an additional greenshoe option of 100 MW (AC), thus securing the solar project’s full quoted capacity. The company will sign a power purchase agreement with GUVNL after receiving approval from Gujarat Electricity Regulatory Commission. The project is anticipated to be commissioned within 21 months from the date of signing of the PPA or the commercial operation date, whichever is earlier.

The company presently has 141 MWp as a part of the independent power producer category and 198 MWp under the captive power producer segment. It aims to reach a total capacity of 1 GW by 2025. The company is projected to achieve 723 MWp as cumulative capacity, with other projects of 144 MWp in hand.

In December 2022, KPI Green Energy Limited bagged a new order for the execution of engineering, procurement, construction, and commissioning of a solar captive power project of 33 MW capacity. The company is also responsible for 25 years of operations and maintenance of the project.