KPI Green Energy Limited has successfully energised an additional 376 MWp capacity, bringing its total energised capacity under its Independent Power Producer (IPP) portfolio to 965 MWp. This significant milestone is part of the phased development of its utility-scale renewable energy assets.
The company’s total IPP portfolio stands at 2.17 GWp, with the remaining capacity under execution and expected to be commissioned in a phased manner according to scheduled timelines. KPI Green Energy‘s continued execution across its IPP portfolio reinforces its position as a leading Independent Power Producer, showcasing its strong project development and delivery capabilities. This expansion enhances long-term revenue visibility through a growing base of contracted renewable energy assets under long-term Power Purchase Agreements (PPAs).
Key developments in KPI’s IPP projects include the successful commissioning of the 200 MW/240 MWp Khavda Solar IPP Project at Khavda Solar Park in January 2026. This project, connected under a long-term PPA with Gujarat Urja Vikas Nigam Limited (GUVNL), is among the earliest operational projects within the 1.8 GW solar park developed by GSECL.
Additionally, KPI Green achieved early commissioning of its 50 MW/92 MWp Hybrid Renewable Energy IPP, comprising 16.95 MW wind capacity and 75.2 MWp solar capacity, ahead of the scheduled July 2026 commercial operation date. This early synchronization underscores the company’s strong execution capability in complex hybrid renewable projects.
In October 2024, KPI executed two long-term PPAs with GUVNL for renewable capacity, including a 250 MW/350 MWp grid-connected solar IPP project and a 370 MW/677 MWp grid-connected hybrid IPP project. The company has energised significant capacities under both projects, with full completion targeted by October 2026.
The company has also signed a PPA for a 150 MW Wind IPP Project with GUVNL in November 2025, achieving financial closure and progressing with execution activities as per schedule. Commissioning is expected by October 2027, with efforts focused on early completion.
Furthermore, Sun Drops Energia Limited, a KPI Green subsidiary, executed a Battery Energy Storage Purchase Agreement with GUVNL for a 445 MW / 890 MWh standalone battery energy storage system. This marks KPI Green’s entry into utility-scale energy storage, enhancing its capability to integrate renewable generation with advanced grid-stability and energy management solutions.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Yash Agarwal and reviewed by Aman Shukla before publication.