KPI Green Energy Limited has informed the Exchange regarding 'execution of Battery Energy Storage Purchase Agreement with GUVNL for development of a self-owned IPP Standalone Battery Energy Storage System Project having an aggregate capacity of 120 MW / 240 MWh. The disclosure is attached herewith. '.
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KPI Green Energy's subsidiary Sun Drops Energia Limited has signed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for developing a 120 MW / 240 MWh standalone battery energy storage system project. The project will be located at two substation sites in Gujarat - 65 MW near Gariyadhar AIS and 55 MW near Otha AIS. This new contract comes after an earlier 445 MW / 890 MWh BESPA, making the group's cumulative BESS portfolio 565 MW / 1,130 MWh. The contract was awarded through GUVNL's Phase-VIII competitive bidding process and is supported by Viability Gap Funding through the Power System Development Fund.
This is a positive development as it significantly expands KPI Green Energy's battery storage portfolio and strengthens its position in the utility-scale BESS segment. The long-term nature of the contract provides revenue visibility, though the size relative to company revenue is not disclosed.