KPI Green Energy Limited has announced the successful signing of Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a total of 620 MWAC (917 MWDC) renewable energy projects.
The agreements include a 250 MWAC (275 MWDC) grid-connected Solar Photovoltaic Power Project, awarded through a competitive bidding process under RFS No. GUVNL / 500 MW / Solar (Phase-XXIV), dated March 15, 2024. This project aims to procure power from 500 MW of grid-connected solar photovoltaic power projects located anywhere in India, with a Greenshoe option for additional capacity of up to 500 MW, excluding energy storage.
In addition, KPI Green Energy secured a 370 MWAC (642 MWDC) grid-connected Hybrid Renewable Energy Power Project through RFS No. GUVNL / 500 MW / Hybrid RE (Phase-II), dated February 14, 2024. This project also follows a competitive bidding process, including a reverse e-auction, for the procurement of power from a 500 MW Hybrid RE project (Phase-II), with a Greenshoe option for additional capacity of up to 500 MW, without energy storage.
KPI Green Energy expressed pride in contributing to the nation’s transition toward environmentally friendly and sustainable renewable energy. The company is reinforcing its commitment to achieving its ambitious target of 10 GW capacity by 2030.
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