KPI Green Energy has provided an update on its 2.57 GWp Independent Power Producer (IPP) portfolio. Approximately 1.16 GWp has been energized, with the remaining ~1.41 GWp under active execution. This progress reinforces the company’s annuity revenue stream strategy and its asset-backed IPP model, complemented by its EPC capabilities.
KPI Green Energy Updates IPP Portfolio Progress
KPI Green Energy Limited has announced substantial progress across its 2.57 GWp Independent Power Producer (IPP) portfolio. The company has successfully energized 1.16 GWp of capacity, with an additional ~1.41 GWp currently under active execution. This ongoing development is a testament to the company’s strategy of building a robust and sustainable annuity revenue stream from long-term contracted projects, strengthening its position as an asset-backed IPP.
Key Project Milestones
Khavda Solar Project
The 200 MW / 240 MWp solar IPP project at Khavda Solar Park (South Block) has been successfully commissioned and is now injecting power. This project is among the first to become operational within the 1.8 GW solar park developed by GSECL, operating under a long-term Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL).
Hybrid Projects Drive Growth
KPI Green has achieved grid synchronization and power injection ahead of schedule for its 50 MW / 92.15 MWp hybrid project, which includes 16.95 MW of wind capacity and 75.2 MWp of solar capacity. This early completion highlights the company’s strong execution capabilities in complex hybrid renewable energy projects, also secured under a PPA with GUVNL.
Furthermore, in October 2024, the company executed two long-term PPAs with GUVNL totaling 620 MW / 1027 MWp for solar and hybrid renewable energy IPPs. This includes a 250 MW / 350 MWp solar IPP project, of which 180.70 MW / 251.13 MWp is commissioned in phases, with the balance under execution. A separate 370 MW / 677 MWp hybrid project is also progressing, with 130 MW / 195 MWp energized in August 2026, bringing the total commissioned capacity to 269.70 MW / 389.70 MWp.
Future Projects
The company also has a 150 MW Wind Project that has recently achieved financial closure and is slated for commission within its schedule. Additionally, a 300 MW Wind IPP Project is currently under process, expected to further add to the company’s portfolio.
Battery Energy Storage Systems
Underscoring its move into utility-scale energy storage, KPI Green has executed PPAs for two projects totaling 565 MW / 1130 MWp of standalone battery energy storage systems with GUVNL. This strategic expansion into BESS aims to strengthen the company’s ability to integrate renewable generation with grid-stability and energy management solutions.
About KP Group
Established in 1994, KP Group has evolved into a diversified conglomerate with significant expertise in renewable energy. The group is actively involved in solar, wind, hybrid energy, and battery energy storage systems, contributing to India’s energy transition and its commitment to reducing carbon footprints.
Source: BSE
