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KPI Green Energy
Indian solar power company From Wikipedia, the free encyclopedia
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KPI Green Energy Limited (formerly K.P.I. Global Infrastructure Ltd) is a solar power company based in Surat, Gujarat.[1] Established in 2008, it is part of the KP Group.[2] The company generates and supplies electricity from solar power projects under the brand name Solarism.[3][4][5]
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History
The company was incorporated in 2008 as KPI Global Infrastructure Limited.[6] Before entering the solar power generation space,[7] It was involved in selling land parcels to third parties.[8] In 2013, the company received a feasibility study from Gujarat Energy Transmission Corporation (GETCO) for connecting its Solarism Plant in Sudi, Bharuch district, Gujarat, to GETCO’s Amod Substation.[9] In 2014, construction began on a 13.25 km 66 KV transmission line to enable power transfer from the Solarism Plant to the Amod Substation.[10][11]
By 2016, the company had completed the first phase of its Sudi solar power plant, with a capacity of 5 MW, located on leased land at the Solarism Plant. This project operated under the Independent Power Producer (IPP) vertical, utilizing the Third Party Sale option of the Gujarat Solar Power Policy 2015.[12] The company started selling the power generated through bilateral Power Purchase Agreements (PPAs).[13] In 2017, an additional solar power plant for 10 MW was installed at the Solarism Plant.[10][14]
In May 2024, the company announced to raise up to ₹1,000 crore through a Qualified Institutions Placement (QIP).[15][16][17][18]
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Partnerships and collaborations
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By 2022, KPI Green Energy had secured agreements for 15.88 MW of wind-solar hybrid power with six companies[19][20] and sold 7.50 MWp of solar power to Tata Motors Passenger Vehicles.[21][22] Its subsidiary, Sun Drops Energia, launched a 2.10 MW Wind-Solar Hybrid Power Project.[23][24] In October 2023, KPI Green acquired a majority stake in KPark Sunbeat for Rs 1.26 billion.[25][26][27] It also signed an MoU with Mahatma Phule Renewable Energy and Infrastructure Technology Limited for collaboration on renewable energy projects.[28][29] Additionally, in partnership with Advait Infratech Limited, KPI Green agreed to establish a 500 MW solar park with the Government of Uttarakhand.[30] KP Group collaborated with Tristar Transport LLC from the UAE to explore global eco-friendly energy solutions.[31][32][33]
In 2018, bilateral Power Purchase Agreements (PPAs) were signed with Mafatlal Industries Limited, Best Paper Mills, and Meghmani Organics for the direct sale of solar power generated at the Solarism Plant.[34] In 2019, the company received approval from the Gujarat Energy Transmission Corporation to increase the evacuation capacity of solar power from 30 MW to 70 MW at the 66 KV Amod Substation in Bharuch district, Gujarat.[35] In 2020, the company changed its name to KPI Green Energy Limited.[3]
In March 2024, KPI signed a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 200 MW grid-connected Solar Photovoltaic Power Project.[36]
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Awards
- Excellence In Solar Park Award - 2016 from Mission Energy Foundation Mumbai[37]
References
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