Surat-based renewable energy solutions provider KPI Green Energy has received a work order from Gujarat State Electricity Corporation (GSECL) for the engineering, procurement, and construction (EPC) of a 110 MW floating solar project at the Kadana Dam reservoir in Mahisagar, Gujarat.

The project also involves providing grid connection infrastructure, including a 33 kV underground transmission line to the pooling station and 33/220 kV bays at the Kadana substation.

KPI Green Energy will also oversee the project’s comprehensive operation and maintenance for 10 years.

The project is slated for completion within 18 months.

The tender was floated in February this year.

Faruk G. Patel, Chairman and Managing Director at KP Group, said winning the EPC contract from GSECL is a major milestone for the company as it expands the portfolio into next-gen floating solar technology.

KPI Green Energy recently signed contracts with SJVN for the EPC of a 200 MW solar project at the Gujarat Industries Power Company Renewable Energy Park in Khavda, Gujarat. This project will be executed through three separate contracts for supply, EPC, and operation and maintenance for an aggregate cost of ₹6.96 billion (~$78.47 million).

In October this year, the company 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 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.

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