KPI Green Energy Limited - Project Execution Update

Overall Portfolio Status

  • Total IPP portfolio: 2.57 GWp
  • Already energized capacity: 1.16 GWp
  • Capacity under active execution: ~1.41 GWp
  • Portfolio characterized by long-term Power Purchase Agreements (PPAs) with tenures of up to 25 years

Project-Specific Updates

200 MW/240 MWp Khavda Solar Project

  • Successfully commissioned and started power injection
  • Located at Khavda Solar Park (South Block)
  • Among early projects operational within the 1.8 GW solar park developed by GSECL
  • Connected under long-term PPA with Gujarat Urja Vikas Nigam Limited (GUVNL)

50 MW/92.15 MWp Hybrid Project

  • Achieved grid synchronization and power injection ahead of scheduled July 2026 commercial operation date
  • Project composition: 16.95 MW wind capacity + 75.2 MWp solar capacity
  • Connected under long-term PPA with GUVNL

620 MW/1027 MWp Solar and Hybrid Renewable Energy IPP

  • Two long-term PPAs executed with GUVNL in October 2024

250 MW/350 MWp Solar Project (within above portfolio)

  • Commissioned capacity: 180.70 MW / 251.13 MWp (phased basis)
  • Remaining capacity under active execution

370 MW/677 MWp Hybrid Project (within above portfolio)

  • Additional energization during August 2026: 130 MW / 195 MWp
  • Total commissioned capacity: 269.70 MW / 389.70 MWp
  • Balance capacity under active execution

150 MW Wind Project

  • Recently achieved financial closure
  • Will be commissioned within schedule timeline

300 MW Wind IPP Project

  • PPA signing currently under process
  • Expected to add further scale to company's wind portfolio

Battery Energy Storage System (BESS) Projects

  • Subsidiary Sun Drops Energia Limited (formerly Sun Drops Energia Private Limited) executed Battery Energy Storage Purchase Agreements (BESPA)
  • Two projects with GUVNL
  • Cumulative capacity: 565 MW / 1130 MWh of standalone battery energy storage systems

Strategic Context

The update reflects continued energization of capacity under ongoing IPP projects, strengthening the company's asset-backed IPP model complemented by its established EPC expertise. The portfolio underscores a robust and sustainable annuity revenue stream from long-term contracted projects.

Company Background

KP Group, established in 1994 by Dr. Faruk G. Patel, has core expertise in renewable energy, infrastructure, and innovation with projects in wind, solar, hybrid energy, BESS, and green hydrogen.