KP Group’s Solar Company Signs 120 MW / 240 MWh BESS Agreement With GUVNL

The Indian equity markets traded higher on Tuesday, with the benchmark Nifty 50 index rising 0.30 per cent to 23,719.95 during the session. Renewable energy and power infrastructure stocks remained in focus amid increasing investments in battery energy storage and grid-scale clean energy infrastructure. In this segment, KPI Green Energy witnessed buying interest after the company announced the execution of a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL). On Tuesday, KPIGREEN share price gained 3.74 per cent to Rs 437.00.

KPI Green Signs 120 MW / 240 MWh BESS Agreement

KPI Green Energy informed exchanges that its subsidiary, Sun Drops Energia Ltd, executed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Ltd for development of a self-owned Independent Power Producer (IPP) standalone Battery Energy Storage System (BESS) project having aggregate capacity of 120 MW / 240 MWh.

The company stated that the BESPA has been executed subsequent to the earlier executed 445 MW / 890 MWh BESPA with GUVNL, taking the group’s cumulative executed standalone BESS portfolio to 565 MW / 1,130 MWh.

According to the filing, the BESPA has been executed pursuant to the tariff-based competitive bidding process conducted by GUVNL under Phase-VIII, supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF).

Project Details

Under the terms of the agreement, Sun Drops Energia Ltd will develop, own and operate the standalone BESS project at locations near the 220kV Gariyadhar AIS Substation with capacity of 65 MW / 130 MWh and the 220kV Otha AIS Substation with capacity of 55 MW / 110 MWh in Gujarat. The contracted battery energy storage capacity will be made available to GUVNL on a long-term basis.

The company stated that the present BESPA marks another milestone for the group and strengthens its presence in the utility-scale Battery Energy Storage System segment while expanding its renewable energy infrastructure portfolio.

Battery Energy Storage Sector In Focus

Battery Energy Storage Systems (BESS) have remained a key focus area in India’s renewable energy transition strategy amid increasing Solar and wind power integration into the national grid. Utility-scale storage projects are being supported through government-backed bidding programmes and viability gap funding mechanisms to improve grid reliability and renewable energy utilisation.

About KPI Green Energy

KPI Green Energy Ltd is engaged in development of solar power projects as an Independent Power Producer (IPP) and captive power producer. The company operates across renewable energy generation and infrastructure businesses with focus on solar and hybrid energy projects.

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Disclaimer: This article is for informational purposes only and not investment advice.