Surat-based renewable energy solutions provider KPI Green Energy has signed contracts with SJVN for the engineering, procurement, and construction (EPC) of a 200 MW solar project at the Gujarat Industries Power Company Renewable Energy Park in Khavda, Gujarat.

The project will be executed through three separate contracts for supply, EPC, and operation and maintenance (O&M) for an aggregate cost of ₹6.96 billion (~$78.47 million).

Under these agreements, KPI Green will supply all the equipment required for the solar project. They will also undertake the erection, installation, and construction activities, covering all civil, architectural, and structural works at the project site.

KPI will also be responsible for the loading, handling, storage, and insurance coverage of the project and equipment supplied under the contracts. It must also conduct testing, commissioning, and performance demonstrations, including operational acceptance, as per contractual requirements.

Finally, the company must provide comprehensive O&M for three years from the commercial operational date. This includes providing spares and consumables.

With this project, KPI Green will expand its footprint in Khavda to over 845 MW.

In 2024 last year, SJVN Green invited bids for setting up solar projects of a cumulative capacity of 700 MW (100 MW * 7 plots) at the Khavda Renewable Energy Park in Gujarat.

Recently, KPI Group signed a framework agreement on behalf of its parent company KP Group,  with wind turbine manufacturer Senvion India to jointly develop up to 2 GW of wind and wind-solar hybrid projects across India over the next three years.

In October this year, KPI Green Energy received a letter of intent from UAE-based FVE Lifecare General Trading, part of the F Plus Group, to develop a 600 MW solar plus storage project in India at an estimated cost of ₹10.5 billion (~$119.02 million).

In September, KPI Green Energy secured approval from the State Bank of India for a ₹32 billion (~$360.77 million) loan for its solar and hybrid independent power producer projects in Gujarat.

Earlier, KPI Green Energy’s board of directors approved the issuance of ₹6.7 billion (~$76.05 million) in secured, listed, rated, senior, redeemable, transferable, non-convertible certified green bonds through a private placement to eligible investors.