KPI Green Energy Emerges Winner for 200 MW Project in GUVNL Tender

KPI Green Energy Joins Hands with Uttarakhand Govt for 500 MW Solar Park

KPI Energy has emerged as the winner in the Gujarat Urja Vikas Nigam Limited (GUVNL) tender for development of a solar photovoltaic power project.

The firm had participated in the competitive bidding process for the “Purchase of power through competitive bidding process vide RFS No. GUVNL / 800 MW / Khavda / Solar (PhaseXX)” issued by GUVNL on May 20, 2023, followed by a reverse E-Auction held on July 01, 2023. This tender was for the development of 800 MW grid-connected solar photovoltaic power projects to be set up in Gujarat State Electricity Corporation Ltd. (GSECL) Solar Park at Khavda (GSECL Stage 2), with a Greenshoe Option of additional capacity up to 800 MW.

KPI Green energy had bid for a base capacity of 100 MWAC (120 MWP) and as part of the Greenshoe Option, accepted the proposal for an additional 100 MWAC (120 MWP), thereby securing the full quoted capacity of 200 MWAC (240MWP) grid connected solar photovoltaic power Project.

The project is expected to be commissioned within 21 months from the date of execution of PPA or actual COD of associated transmission system of Khavda Solar Park-2 (KPS-2), whichever is earlier, subject to minimum time period of 15 months from the date of execution of PPA.

The firm said that it has received the Letter of Intent on August 3, 2023, awarding it the full quoted capacity. The Power Purchase Agreement (PPA) with GUVNL shall be executed after obtaining the approval of the Gujarat Electricity Regulatory Commission (GERC).

The firm has set itself the ambitious target of achieving 1 GWp by the year 2025 and has energized a total capacity of 339 MWp, with 141 MWp under the IPP segment and 198 MWp under the CPP segment. It added that with the successful securing of the said tender of 240 MWP and with other confirmed cumulative orders in hand of 144 MWp along with the existing energized capacity of 339 MWp, its cumulative capacity will soon reach
723 MWp. The firm maintains that as a result of these wins, it is expected to achieve its 1 GWp milestone much earlier than its projected deadline of the year 2025.