KPI Green Energy Limited has announced the sanction of ₹272 crore in financial assistance from the National Bank for Financing Infrastructure and Development (NaBFID) to partially fund its 50MW hybrid power project in Bharuch District, Gujarat. The project consists of 75.2MWp solar capacity and 16.95MW wind capacity, contributing significantly to India’s renewable energy landscape.

The financial assistance, which will play a critical role in accelerating the development of the hybrid project, has been granted under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL). This long-term agreement ensures sustained operational stability and revenue generation, further solidifying KPI Green's commitment to fostering sustainable energy growth in India.

Details of the Project

The 50MW hybrid power project is part of KPI Green's aggressive plan to scale up its renewable energy portfolio. The hybrid project, integrating solar and wind energy, is expected to maximize energy generation and ensure continuous power supply to meet rising electricity demands in Gujarat. Hybrid projects offer higher efficiency and reliability by combining the strengths of both solar and wind energy sources, ensuring optimal utilization of renewable resources.

With the sanction of ₹272 crore from NaBFID, KPI Green aims to complete the project within the stipulated timeframe. The funds will be used to cover a significant portion of the project cost, ensuring the seamless execution of the hybrid power project. This assistance marks an important milestone in the company's ambitious target of achieving 10 GW of renewable energy capacity by 2030.

Impact on Renewable Energy Growth

The successful execution of this hybrid power project will significantly contribute to India's growing renewable energy capacity. As India aims to achieve its renewable energy targets and reduce its carbon footprint, hybrid projects like this play a pivotal role in balancing the energy mix. Gujarat, with its favorable wind and solar conditions, is a prime location for hybrid power projects, allowing for optimized energy generation and distribution.

KPI Green's continued efforts in expanding its renewable energy footprint align with India's mission of achieving net-zero carbon emissions. The hybrid project will not only reduce the dependence on conventional energy sources but also promote sustainable energy solutions for the future.

Strategic Partnership with GUVNL

The 25-year PPA with GUVNL ensures a long-term, reliable revenue stream for KPI Green. GUVNL, a leading power distribution company in Gujarat, plays a crucial role in integrating renewable energy into the state's power grid. This partnership strengthens KPI Green's position as a key player in the renewable energy sector and contributes to Gujarat's vision of becoming a renewable energy hub.

KPI Green's Vision and Future Goals

KPI Green Energy has set ambitious goals to reach 10 GW of renewable energy capacity by 2030, and this hybrid project is a vital step towards achieving that target. By diversifying its portfolio through the integration of solar and wind energy, KPI Green aims to provide clean, reliable, and cost-effective energy solutions to meet India's growing energy demands.

The successful commissioning of the Bharuch hybrid project will pave the way for future hybrid projects, showcasing KPI Green’s technical expertise and ability to execute large-scale renewable energy projects. The company is strategically focusing on scaling up hybrid projects to enhance operational efficiency and meet India’s renewable energy goals.

Conclusion

The sanctioning of ₹272 crore by NaBFID for KPI Green Energy’s 50MW hybrid power project in Bharuch is a significant development in India’s renewable energy sector. This project, which includes both solar and wind capacities, strengthens KPI Green's portfolio and reaffirms its commitment to providing sustainable energy solutions. With a 25-year PPA with GUVNL, KPI Green is well-positioned to contribute to India’s clean energy transition and achieve its vision of 10 GW capacity by 2030.

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