K.P. Energy Bags 1+ GW Renewable Project Order from KPI Green Energy

K.P. Energy Limited, a prominent player in India’s renewable energy sector, has announced a significant 1+ GW order from KPI Green Energy Limited. This substantial contract for 1003.7 MW of wind-solar hybrid and solar power projects marks a key milestone for the company and contributes to India's clean energy goals.

Project Details and Phases

The order from KPI Green Energy is segmented into three phases with specific allocations for wind and solar components:

1. Phase I: A hybrid project with a capacity of 86.8 MW, consisting of 70 MW solar and 16.8 MW wind.
2. Phase II: The largest phase, a hybrid project totaling 641.9 MW, divided into 518 MW solar and 123.9 MW wind.
3. Phase III: A standalone solar project with a capacity of 275 MW.

These projects align with various tenders from Gujarat Urja Vikas Nigam Limited (GUVNL), reflecting Gujarat’s focus on renewable power. The projects will be executed as per timelines set in definitive agreements between the two companies.

Scope of K.P. Energy's Role

K.P. Energy will oversee the Engineering, Procurement, Construction, and Commissioning (EPCC) of these projects. This includes:

• Designing and construction of project infrastructure
• Supply and erection of equipment
• Testing and commissioning to ensure optimal functionality
• Securing permits and approvals required for each phase

With such a comprehensive role, K.P. Energy will be involved at every step, ensuring the delivery of quality renewable energy projects across Gujarat.

Related Party Transaction and Arm’s Length Deal

As a related-party transaction, this contract follows SEBI regulations to ensure transparency and fairness. KPI Green Energy Limited is a group company of K.P. Energy; both entities share a common promoter, Dr. Faruk G. Patel, who serves as Chairman & Managing Director of both companies. However, the transaction has been conducted on an arm’s length basis and in the ordinary course of business, aligning with regulatory compliance standards.

Conclusion

This new order from KPI Green Energy underlines K.P. Energy's leadership in renewable energy project development. With a strong focus on the wind-solar hybrid model, K.P. Energy is positioned to make significant contributions to India’s green energy landscape. As the projects progress, they will enhance India's renewable energy infrastructure, particularly in Gujarat, reinforcing India’s commitment to clean energy expansion.

The Upcoming IPOs in this week and coming weeks are Archit Nuwood Industries Limited, Swiggy, ACME Solar Holdings, Sagility India, Neelam Lines and Garments, Niva Bupa Health, Rosmerta Digital, NTPC Green, Avanse Financial.

The Current active IPO is Sagility India Limited.

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