KPI Green Energy Limited has secured a letter of intent (LoI) from FVE Lifecare General Trading, which is a part of the F Plus Group. The LoI is for the development of a 600 MW solar plus storage project that is valued at approximately Rs 10.5 billion in India.
According to the LoI, the scope of work for KPI Green consists of the design, development, financing, and commissioning of the project. Furthermore, the project will be executed in phases to align with FVE Lifecare’s global expansion strategy. The initial deployment is planned in Gujarat, Rajasthan, and Andhra Pradesh, with possible replications across Asia, the Middle East, and Africa.
Additionally, the project aims to supply power for captive and group-captive consumption by F Plus Group’s facilities. This will be undertaken through mutually agreed power purchase agreements, joint ventures, or strategic investment arrangements.
Earlier this month, KPI Green received three letters of award worth Rs 6.96 billion from SJVN for the development of a 200 MWac solar project at the GIPCL Renewable Energy Park in Khavda, Gujarat.
