KPI Green Energy Expands Renewable IPP Footprint to 2.57 GWp

KPI Green Energy's total IPP portfolio has reached 2.57 GWp, comprising approximately 1.16 GWp already energised with the balance approx 1.41 GWp under active execution. This portfolio continues to underscore a robust and sustainable annuity revenue stream from long-term contracted projects under Power Purchase Agreements (PPAs), mostly with tenures of up to 25 years, reinforcing the Company's strategic transition toward an asset-backed Independent Power Producer (IPP) model. 

The Company has successfully commissioned and started injecting power from its 200 MW / 240 MWp solar IPP project at Khavda Solar Park (South Block), making it among the early projects operational within the 1.8 GW solar park developed by GSECL. The project is connected under a long-term Power Purchase Agreement with Gujarat Urja Vikas Nigam (GUVNL).

The company has achieved grid synchronisation and power injection ahead of the scheduled July 2026 commercial operation date for its 50 MW / 92.15 MWp hybrid project, comprising 16.95 MW wind capacity and 75.2 MWp solar capacity. The early synchronisation demonstrates its strong execution capability in complex hybrid renewable projects. The project is connected under a long-term Power Purchase Agreement with GUVNL.

The company is developing a diversified renewable energy portfolio comprising solar, hybrid renewable energy, wind and battery energy storage projects. In October 2024, it executed two long-term PPAs with GUVNL covering 620 MW/1,027 MWp of solar and hybrid renewable capacity. Under the 250 MW/350 MWp solar IPP project, 180.70 MW/251.13 MWp has been commissioned in phases, while the remaining capacity is under active execution. The 370 MW/677 MWp hybrid project has reached 269.70 MW/389.70 MWp of commissioned capacity following the energisation of an additional 130 MW/195 MWp in August 2026, with the balance currently under execution.

In the wind segment, the company’s 150 MW wind project has achieved financial closure and is expected to be commissioned within the scheduled timeline. In addition, the PPA for a 300 MW wind IPP project is currently under process, which is expected to further expand the company’s wind portfolio. The company is also strengthening its energy storage capabilities through its subsidiary, Sun Drops Energia, which has executed Battery Energy Storage Purchase Agreements (BESPAs) with GUVNL for two standalone BESS projects with a combined capacity of 565 MW/1,130 MWh.

This underscores KPI Green's growing presence in utility-scale energy storage, strengthening the Company's capability to integrate renewable generation with advanced grid-stability and energy management solutions.