KPI Green Energy Limited has informed the Exchange about Bagging/Receiving of orders/contracts
KPIGREEN · price
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Awaiting price reaction for this filing.
KPI Green Energy's subsidiary Sun Drops Energia has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) for developing 445 MW / 890 MWh Standalone Battery Energy Storage System (BESS) projects across multiple locations in Gujarat. The order was won through tariff-based competitive bidding under Phase-VII and is supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF). This marks the Group's first utility-scale IPP BESS project and its first BESS award from a major government body, representing its entry into the utility-scale battery storage segment. The project expands the company's clean energy portfolio beyond solar, wind, and hybrid power into grid-scale energy storage, a fast-growing infrastructure segment. No related party interest was disclosed, and final award is subject to execution of BESPA and regulatory approvals.
Positive — a large government-backed order in an emerging segment signals strategic expansion and could meaningfully boost future order book and revenue, though execution and final award remain subject to further approvals.