KPI Green Secures 15.90 MW Solar Plant Under CPP Segment

The Gujarat-based KPI Green’s subsidiary, Sun Drops Energia Private Limited, has secured a letter of award (LoA) for 15.90 MWDC solar power projects under the ‘Captive Power Producer (CPP)’ segment.

The KPI Green mentioned in a regulatory filing, “The company secured the award from seven entities, namely, Mexo Fiber Pvt. Ltd., Rayons, Maharaja Industries, Gautam Casting Industries Pvt. Ltd., Gautam Technocast, Shrirajlaxmi Denim, and Kartik Dyeing.”

Regarding the scheduled commissioning of the project, the company stated, “The projects are tentatively scheduled to be completed in the financial year 2025-26, in various tranches, as per the terms of the orders.”

Project Execution

KPI Green also reported an increase in its turnover in the third quarter of FY 2024-2025 (Q3 FY 2024-2025). The firm stated that it has executed projects worth 533 MW in the nine months of FY25 so far, with an order book of 2.87 GW. Captive Power Projects, a traditionally strong area for the firm, continue to dominate with a share of 362 MW in FY 25 so far, with IPP projects accounting for the remaining 171 MW. Q4 is typically a strong quarter for solar EPC firms, and this year should be no different for KPI Green. With a land bank of 4180 acres, the firm is well-positioned to continue delivering toward its target of 10 GW of installations by 2030.

With 1.1 GW of its order book comprising Hybrid projects, 2025 has been a pivotal year for the firm in terms of shifting its focus to include more wind energy, and soon, energy storage projects. The firm has also made progress in its aim to expand beyond Gujarat, with new sites in Maharashtra and substantive MoUs with governments in Odisha, Rajasthan, and Andhra Pradesh for investments in those states.