KPI Green Bags 50MW Of Wind-Solar Hybrid Power Project From GUVNL

KPI Green Bags 50MW Of Wind-Solar Hybrid Power Project From GUVNL

Gujarat based KPI Green energy a renewable energy company recently announced that it emerged as a successful winner for Gujarat Urja Vikas Nigam Limited (GUVNL) 50MW of Wind-Solar Hybrid Power Project.

KPI received the letter of Intent, in which it was awarded 50MW (comprising of 16.80 MW Wind and 50MW Solar) Wind-Solar Hybrid Power Project. The power purchase agreement (PPA) with GUVNL is to be executed after obtaining the approval of the Gujarat Electricity Regulatory Commission (GERC).

The company has earlier participated in the competitive bidding process for the procurement of power for GUVNL 500 MW / Hybrid RE (Phase I) project. This project was issued by GUVNL on November 1, 2023. The tender for this 500 MW hybrid renewable power projects was announced with a greenshoe option of additional capacity up to 500 MW. The power purchase agreement (PPA) for this project is expected to be implemented with GUVNL after obtaining the approval of the Gujarat Electricity Regulatory Commission (GERC).

The company stated, “It gives us immense pride to share that this tender win is aligned with our strategic vision and ambitious target of achieving 1000 MW by the year 2025. The magnitude of this LOI demonstrates the trust and confidence placed in our company’s capabilities, technical expertise, and commitment to delivering high-quality sustainable energy solutions.” 

Earlier, KPI Green Energy Limited signed a Power Purchase Agreement (PPA) for 200MWAC i.e. (240MWp) grid-connected solar photovoltaic power project. The company stated, “This project was won through a competitive bidding process vide RFS No. GUVNL/800 MW/Khavda/Solar (Phase XX). The project is dated 20th March 2023 and issued by GUVNL for procurement of power from 800 MW grid-connected solar photovoltaic power projects. The project is located in the Gujarat State Electricity Corporation Ltd. (GSECL) solar park at Khavda (GSECL Stage 2) with a Greenshoe option of additional capacity of up to 800MW has been signed and executed with Gujarat Urja Vikas Nigam Limited (GUVNL). Thus, expediting our efforts to achieve our ambitious goal of reaching a capacity of 1000 MWp by 2025.”