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KPI Green Energy has received three distinct Letters of Award (LOAs) from SJVN (A Government of India Enterprise) for a major 200 MW (AC) Solar Power Project at the GIPCL Renewable Energy Park, Khavda, Gujarat.
The project encompasses a full-scope EPC (Engineering, Procurement, and Construction) package followed by a long-term Operation & Maintenance (O&M) contract.
First Contract: Supply of all Plant and Equipment at site (Rs 486.89 crore)
Second Contract: Erection, Testing, Commissioning, Civil & Structural Works (Rs 178.27 crore)
Third Contract: Comprehensive Operation & Maintenance (Rs 31.34 crore)
“This licence is a strategic milestone for us. It not only empowers KPI to participate directly in dynamic markets but also allows us to sell power when and where it's most needed—maximising realisations, expanding customer choice, and accelerating India's clean-energy transition,” said Dr. Faruk Patel, Chairman & Managing Director
With this GERC approval, KPI Green Energy can now:
1. Tap directly into power exchanges and short-term bilateral markets, providing industrial and utility customers with flexible procurement options that adapt to their operational demand curves.
2. Offer verifiable green energy blocks that support both RE compliance and ambitious ESG objectives.
3. Enable transparent pricing through exchange-discovered rates and standardized contracts, making costs predictable and competitive for customers.
4. Support faster onboarding for open-access consumers, meeting short-term and transitional energy needs quickly and efficiently.
KPI Green Energy secures a sanction of Rs 3,200 crore from State Bank of India (PF&SBU), comprising both fund-based and non-fund based facilities, to part-finance the development of its 250 MW Solar Project and 370 MW Hybrid Project in Gujarat, together aggregating over 1 GWp of the Company's Independent Power Producer (IPP) portfolio.
The sanctioned facilities will support two strategically significant renewable projects:
Both projects are secured by 25-year long-term Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL) and are being developed in the Bharuch and Surendranagar districts of Gujarat.
Adani Power Ltd rose 4.04% today to trade at Rs 150.65. The BSE Utilities index is up 0.38% to quote at 5489.59. The index is up 6.5 % over last one month. Among the other constituents of the index, Inox Green Energy Services Ltd increased 4.03% and KPI Green Energy Ltd added 3.01% on the day. The BSE Utilities index went down 19.83 % over last one year compared to the 4.15% fall in benchmark SENSEX.
Adani Power Ltd has added 27.28% over last one month compared to 6.5% gain in BSE Utilities index and 1.05% rise in the SENSEX. On the BSE, 20.62 lakh shares were traded in the counter so far compared with average daily volumes of 30.72 lakh shares in the past one month. The stock hit a record high of Rs 182.75 on 23 Sep 2025. The stock hit a 52-week low of Rs 86.17 on 21 Nov 2024.