KPI Green Energises 965 MWp of Its 2.17 GWp IPP Portfolio

KPI Green Energy Ltd.has energised 965 MWp capacity under its 2.17 GWp Independent Power Producer (IPP) portfolio, following the addition of 376 MWp across solar and hybrid projects, the company said in a regulatory filing.

The latest capacity addition includes around 182 MWp of solar capacity under the 250/350 MWp project and approximately 164 MWp solar along with 30 MWp wind capacity under the 370 MW/677 MWp hybrid project, both tied to Gujarat Urja Vikas Nigam Ltd.

With this milestone, KPI Green continues to advance 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 phases as per schedule.

The portfolio is supported by long-term Power Purchase Agreements (PPAs), many spanning 25 years, ensuring stable and predictable annuity-based revenue streams. The development also reflects the company’s strategic shift toward an asset-backed IPP model, complemented by its engineering, procurement, and construction (EPC) expertise.

Among key projects, KPI commissioned its 200 MW (240 MWp) solar IPP project at Khavda Solar Park in January 2026, making it one of the early operational projects in the 1.8 GW park developed by Gujarat State Electricity Corporation Limited. The project is backed by a long-term PPA with GUVNL.

In the hybrid segment, the company achieved early commissioning and power injection for its 92.15 MWp project—comprising 16.95 MW wind and 75.2 MWp solar capacity—ahead of its scheduled July 2026 commercial operation date.

KPI is also progressing on its 250 MW/350 MWp solar project, where 181 MW (251 MWp) has already been energised, with full completion targeted by October 2026. Similarly, under the 370 MW/677 MWp hybrid project, the company has energised 140 MW AC (194 MWp), including both solar and wind components, with the remaining capacity under execution.

In addition, KPI has signed a PPA for a 150 MW wind IPP project with GUVNL in November 2025. The project has achieved financial closure and is currently under execution, with commissioning expected by October 2027.

Expanding into energy storage, KPI’s subsidiary Sun Drops Energia Ltd. has executed a Battery Energy Storage Purchase Agreement (BESPA) with GUVNL for a 445 MW / 890 MWh standalone Battery Energy Storage System (BESS) project. This marks the company’s entry into utility-scale storage, aimed at enhancing grid stability and renewable energy integration.