Sun Drops Energia, a subsidiary of KPI Green Energy, has won an aggregate capacity of 100 MW solar projects under Gujarat’s Distributed Renewable Energy Bilateral Purchase (DREBP) Policy.

The projects are tentatively scheduled to be completed in the financial year 2027. They will be commissioned in tranches.

The projects will be executed on a turnkey basis and will use solar modules that comply with domestic content requirements.

The DBERP policy aims to help distribution companies in Gujarat meet their renewable purchase obligations.

Under the policy, DISCOMs may procure power from solar projects of up to 4 MW at a tariff equivalent to the average of tariffs discovered in auctions in the last six months. The solar tariff will incur an additional ₹0.2 (~$0.002)/kWh charge on top of the average tariff.

DISCOMs can also procure wind power from projects up to 10 MW at a tariff equivalent to the average of tariffs discovered in auctions in the last six months

KPI Green Energy’s portfolio consists of more than 4 GW of wind-solar hybrid projects and over 3.5 GW of power evacuation infrastructure.

Recently, KPI Green Energy secured an 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. The approval comprises both fund-based and non-fund-based facilities to part-finance the development of its 250 MW solar and 370 MW hybrid projects in Gujarat.

In September this year, 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. The bonds will be utilized to support the development of a package of renewable energy assets.

In June, KPI Green Energy awarded a ₹15 billion (~$174.31 million) order to supply TOPCon bifacial solar modules to solar module and cell manufacturer Emmvee for an upcoming project in Gujarat.