KPI Green Energy Subsidiary Secures 120 MW BESS Project Agreement with GUVNL
KPI Green Energy Limited, through its subsidiary Sun Drops Energia Limited, has successfully executed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL). This agreement covers the development of a self-owned IPP Standalone Battery Energy Storage System (BESS) Project with an aggregate capacity of 120 MW / 240 MWh.The execution of this BESPA, which mandates Sun Drops Energia Limited to develop, own, and operate the Standalone BESS Project, marks a significant step in the company’s renewable infrastructure footprint. The project locations are situated in the State of Gujarat, specifically near the 220kV Gariyadhar AIS Substation (65 MW / 130 MWh) and the 220kV Otha AIS Substation (55 MW / 110 MWh). These facilities will make the contracted battery energy storage capacity available to GUVNL on a long-term basis.
This latest agreement follows an earlier 445 MW / 890 MWh BESPA with GUVNL. This transaction elevates the Group’s total executed standalone BESS portfolio to 565 MW / 1,130 MWh, strengthening the company's presence in the utility-scale BESS segment.
The BESPA was awarded following a tariff-based competitive bidding process conducted by GUVNL under Phase-VIII, supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF).
Key details of the executed contract include:
| Particulars | Details |
|---|---|
| Entity Awarding the Contract | Gujarat Urja Vikas Nigam Limited (GUVNL) |
| Contract Type | Battery Energy Storage Purchase Agreement (BESPA) |
| Project Capacity | 120 MW / 240 MWh Standalone Battery Energy Storage System Project |
| Nature of Contract | Battery Energy Storage Purchase Agreement (BESPA) |
| Awarding Status | Domestic Entity |
| Interest in Awarding Entity | No |
| Related Party Transaction | No |
KPIGREEN Stock Price Movement
Today, KPI Green Energy Limited shares rallied, gaining 3.67% to close at ₹438.3. The equity settled today on a substantial volume of 1.16 million shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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