KPI Green Energy announced the commencement of power generation and supply from its 200 MW AC / 240 MW DC grid-connected solar power project awarded by Gujarat Urja Vikas Nigam (GUVNL) through a competitive bidding process.
The project, with GUVNL as the off-taker, is being implemented under a long-term Power Purchase Agreement (PPA) and forms part of Gujarat's initiatives to expand renewable energy capacity and enhance grid reliability. The project has successfully achieved grid synchronization, and initial power injection into the state grid has commenced.
With the start of power generation, the project is expected to begin contributing to the Company's revenues on a sustained basis, supported by the long-term contracted tariff under the PPA, ensuring stable and predictable cash flows. Notably, this is one of the first solar power project to be commissioned in the 1.8 GW GSECL Solar Park (South Block), Khavda.
This milestone reinforces KPI Green Energy's strategic focus on scaling its Independent Power Producer (IPP) portfolio and expanding its presence in utility-scale solar and hybrid power projects, while supporting state utilities in meeting their renewable purchase obligations. |