KPI Green Energy arm bags 120 MW/240 MWh battery storage project from GUVNL

KPI Green Energy Limited informed exchanges that its subsidiary, Sun Drops Energia Limited, has executed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of a 120 MW / 240 MWh standalone Battery Energy Storage System (BESS) project in Gujarat.

According to the company’s regulatory filing dated May 19, 2026, the project will be developed under a tariff-based competitive bidding process conducted by GUVNL under Phase-VIII and supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF).

The agreement comes after the earlier execution of a 445 MW / 890 MWh BESPA with GUVNL, taking KPI Green Energy Group’s cumulative executed standalone BESS portfolio to 565 MW / 1,130 MWh.

The company said the project will be developed on a build-own-operate basis by Sun Drops Energia Limited. The battery storage systems will be installed at two locations in Gujarat — the 220kV Ghiyadar AIS Substation with 65 MW / 130 MWh capacity and the 220kV Otha AIS Substation with 55 MW / 110 MWh capacity.

Under the long-term agreement, the subsidiary will supply contracted battery energy storage capacity to GUVNL.

KPI Green Energy stated that the latest execution marks another milestone in the group’s utility-scale battery energy storage business and further strengthens its presence in India’s emerging renewable energy infrastructure segment.

The company added that the project aligns with its strategy to expand its footprint in advanced clean energy and grid-balancing solutions amid rising renewable energy integration across the country.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.