KPI Green Energy Secures 33.6/76.6 MW Hybrid Power Project LOI
KPI Green Energy received an LOI for a 33.6/76.6 MW Wind-Solar Hybrid Power Project under a Group Captive arrangement. The project is to be completed by December 31, 2027, with a 25-year term. This enhances the company's order book and presence in the C&I segment.
The LOI for a 33.6/76.6 MW project is a significant addition to the company's order book, contributing to future revenue streams and reinforcing its position in the renewable energy sector, thus having a medium-term impact.
The company has received a Letter of Intent for a new project, which is a positive development that expands its order book and strengthens its market presence.
KPI Green Energy Limited has announced the receipt of a Letter of Intent (LOI) for the development of a 33.6 MW Wind and 33.6 MW AC / 43 MW DC Solar hybrid power project, aggregating to 33.6 / 76.6 MW DC capacity. This project will be developed for a reputed customer under a Group Captive arrangement in Gujarat.
The project involves the establishment of a Special Purpose Vehicle (SPV) for its development, ownership, and operation. KPI Green Energy is expected to complete the project development, construction, and commissioning within 14 months from Stage-2 connectivity, with a latest completion date of December 31, 2027. The agreement has a term of 25 years from the Commencement Date of the Energy Supply Agreement. This development is expected to strengthen the company's presence in the C&I and Group Captive renewable energy segments and enhance its order book.
The LOI was awarded by a domestic private corporate entity, and it does not fall under related party transactions. This is considered a significant step towards the company's strategy of expansion through IPP, Group Captive, and EPC opportunities.
A plain-language summary of a public exchange filing by KPI Green Energy Limited. Read the original for the full detail.