KPI Green Energy Arm Signs BESPA with GUVNL for 445 MW/890 MWh BESS Projects in Gujarat
KPI Green Energy subsidiary Sun Drops Energia has signed a BESPA with Gujarat Urja Vikas Nigam (GUVNL) to develop 445 MW/890 MWh standalone BESS projects across Gujarat with VGF support.
March 09, 2026. By Mrinmoy Dey
The BESPA has been executed pursuant to the tariff-based competitive bidding process conducted by GUVNL for the procurement of Standalone BESS capacity under Phase-VII, supported by viability gap funding (VGF) through the power system development fund (PSDF), the company stated in a regulatory filing. The company received the letter of intent (LoI) in January 2026.
Under the terms of the BESPA, Sun Drops Energia will develop, own and operate standalone BESS projects with an aggregate capacity of 445 MW/890 MWh at multiple locations in Gujarat and make the contracted battery energy storage capacity available to GUVNL on a long-term basis, it said.
The execution of BESPA marks a significant milestone for the Group as it formally progresses into the implementation phase of its first utility-scale IPP BESS project, further strengthening its presence across emerging segments of the renewable energy ecosystem, the company stated.
KPI Green Energy’s cumulative installed and upcoming renewable capacity has reached over 4.74 GW, including 2.17 GW in the IPP segment and 2.57 GW in the Captive Power Producer (CPP) segment. KPI Green Energy's order book stands at 3.61 GW, providing strong revenue visibility. Installed capacity has crossed 1.12 GW, supported by a land bank of nearly 6,999 acres and power evacuation capacity exceeding 3.57 GW. KP Group has set a target of over 10 GW of renewable capacity by 2030.
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