KPI Green Energy Bags 40 MW Hybrid Project in Gujarat

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

Independent Power Producer KPI Green Energy has received a letter of intent for developing a 40 MW hybrid green energy project that will come up in Gujarat. The capacity entails 21.50 MW wind and 18.5 MW solar, as per the firm.

The 40 MW hybrid project bagged by KPI has been awarded by Anupam Rasayan India, Surat, a firm that engages in the manufacturing of industrial chemicals. The project will be established as part of CPP (Captive Power Producer) business arm of the firm. The project is slated for completion in Financial Year 2023-2024 in various phases.

The company statement read as, “This largest single LoI is a significant milestone for our company, showcasing our strong position in the renewable energy market,” adding, “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. This achievement further strengthens our position in the industry and reinforces our commitment to driving the transition towards clean and renewable energy sources.”

After KPI Green Energy bagged the project, its shares rose to nearly 3%.

In April, 2023, the Surat-headquartered firm announced that it had accomplished the charging of 26.l0 MW wind-solar hybrid project. This entails 16.l0 MW wind and 10 MW CIC solar capacity. Earlier, the firm recently commissioned a 25 MW captive solar power project for Greenlab Diamonds in Surat. KPI Green Energy had said that it had inked a set of new Power Purchase Agreements (PPAs) to sell 6.3 MW of solar power.