KP Energy & GE India Signs Agreement for 300MW Wind Power Project

KP Energy Limited has informed the BSE that KP Energy Limited and GE India Industrial (P) Limited have signed up definitive agreements for the development of 300MW Wind Power Project (120 Wind Turbine Generators of 2.5 MW each) at Kutch, Gujarat. The project will be connected with ISTS (Inter-State Transmission System) Network in Kutch. This is in furtherance to the Term Sheet Agreement signed up between the parties.

KP Energy has undertaken development activities for the project including resource mobilization, lands and permits acquisition, statutory approvals and route surveys. KP Energy so far has received milestone payments of Rs.28.45 Crores towards the above progress. The Total Project Is planned to achieve full commissioning by September 2019.

KP Energy Ltd. provides one roof solutions to entire gamut of services for wind farm development. It also develops wind power projects of utility scale providing end-to-end solutions like wind farm siting, wind site land acquisition, permits, power evacuation facilities like sub-stations, high voltage transmission lines, wind turbine civil foundation works as well as its erection & installation. It facilitates Power Sale Arrangement between investors and Power Utilities as well. KP Energy’s revenue flows in as Balance of Plant (BoP) activities which is approximately about 20-24% of total Project Cost. This model was first of its kind of package offered by KP Energy in India and it has enjoyed first mover advantage. This also have given a distinction to KP Energy for being one of the highest ROCE, ROI & fastest growing company in India.

The Company’s stock is set to migrate to the main boards of stock exchanges for trading. KP Energy Ltd. would add 631.50 MW in 2018-19 and another 630 MW in 2019-20 in its five locations at Gujarat