Gujarat: KPI Green Gets 36.87 MW Captive Solar Orders

Gujarat: KPI Green Gets 36.87 MW Captive Solar Orders

Gujarat-based KPI Green Energy said its subsidiary, Sun Drops Energia, has secured Letters of Award (LoA) and Letters of Intent (LoI) for developing 36.87 MW of solar power projects under its Captive Power Producer (CPP) segment. The projects are tentatively scheduled to be completed in the financial year 2025-26, in various tranches as per the terms of the orders, the company said in a regulatory filing.

KPI Green added, “The projects are scheduled for completion in the financial year 2025–26, in multiple tranches based on order terms. It added that some of these projects will be developed under the Distributed Renewable Energy Bilateral Purchase (DREBP) Policy, in line with the Gujarat Renewable Energy Policy 2023 and GERC Tariff Orders No. 5 and 6 of 2024.” Under the original order, for a solar project up to 5 MW, GERC has set the Levelized Tariff at Rs 2.76/Unit and Net Tariff at Rs. 2.48/Unit

Here are some of the key points from the Under the GERC framework:

• Renewable energy generated through DREBP will be claimed by distribution companies (DISCOMs) to meet their Renewable Purchase Obligations (RPO).

• The Domestic Content Requirement (DCR) is not mandatory under the policy.

• After signing a Power Purchase Agreement (PPA), developers may shift the project location, subject to the guidelines of the Security-Cum-Submission Deposit (SCSD), though the SCSD amount will remain unchanged.

  

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• A new Solar Power Purchase Agreement (SPPA) must be signed for location changes; however, changes to the interconnection point are not permitted.

  

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• Renewable energy producers will not be entitled to claim carbon credits, Clean Development Mechanism (CDM) benefits, or RPO credits from these projects.

The Gujarat Renewable Energy Policy 2023 allows individuals, companies, associations, and other entities—incorporated or otherwise—to establish renewable energy projects. Solar projects up to 4 MW and wind projects below 10 MW can be developed for sale to DISCOMs without competitive bidding. The GERC Tariff Orders No. 5 and 6 of 2024 allow the applicants to receive system-generated letters of award (LoAs) from DISCOMs or GUVNL and execute a connectivity agreement within 15 days.

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