KPI Green Energy Inks PPAs With Six Firms to Sell 15.88 MW Power

To sell 15.88 MW of wind and solar hybrid power projects, Gujarat-based solar EPC company KPI Green Energy has inked new long-term power purchase agreements within the company’s independent power producer company segment. 

KPI Green Energy has secured new long-term power purchase agreements to sell 15.88 MW of wind and solar hybrid power projects. Six buyers, including J. Korin Spinning, J. S. Ecotex, Oriilon India, Jay Bharat Metcast, Kiri Industries, and Cheminova India, have signed the PPAs with the firm. According to the 2018 Gujarat Hybrid Power Policy, all six buyer-firms will receive electricity from KPI’s upcoming cumulative 16.10 MW wind and solar hybrid power project.

Recently, KPI Green Energy announced that it is installing green hybrid capabilities at Bhavnagar totaling 16.10 MW. According to the firm, this 16.10 MW hybrid power project will include a solar energy project (10 MWdc) and wind energy project (6.10 MW ) capacity that will be created at the Bhungar location in Mahuva at Bhavnagar, Gujarat.

As per the tender document, the State Bank of India had provided the necessary financial closure for Rs 132 crore. As per the report, in the quarter that ended in June 2022, the company’s combined net profit increased to Rs 22.23 crore from Rs 7.99 crore in the quarter that ended in June 2021. Sales increased significantly from Rs 35.42 crore in Q1 FY22 to Rs 122.33 crore in Q1 FY23.

For more of this PPA details like documents and technical specifications here.

Earlier, KPI Green Energy installed 10 MWp solar projects in Bharuch Gujarat. It was a CPP project developed by KPI Green Energy on behalf of CPP customers by entering into a turnkey agreement enabling CPP customers to not only use a common pool of grid-connected land to establish and generate solar power but also provide ready-made common infrastructures to evacuate power, using our transmission line from solar plant to the nearest GETCO Substation.