KPI, GSECL Sign PPA For 200MW On-Grid Solar Project At Khavda

Khavda: CIL Awards KPI Green Contract For 300 MW Solar Project

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.”

Additionally, SJVN, shares climbed to nearly 4% in today after the company notified that its arm secured a 200 megawatts (MW) solar project. In the last one month the PSU stock fell over 26% as investors booked profit after the counter touched its 52-week high of ₹170.45 on February 5, 2024. SJVN shares opened higher at ₹123.85, which rose from 2.4% from closing price of ₹120.90 on the BSE. 

Earlier this year, renewable energy companies Juniper Green Energy Private Limited and KPI Green Energy Private Limited were awarded the project for establishing 200 MW capacity, part of a 500 MW grid-connected wind-solar hybrid power project in Gujarat. The allocation was done by Gujarat Urja Vikas Nigam Limited (GUVNL). Another 500 MW allocation of the project will be done through the greenshoe option. The auction for the bid mentioned above had 280 MW getting auctioned while 200 MW was awarded. Juniper Green Energy secured a contract for 150 MW at Rs Rs 3.04 per kWh while KPI Green Energy secured a 50 MW project with a price of Rs 2.99 per kWh.