KPI Green Energy shares gained 4.7 per cent on BSE, logging an intra-day high at ₹440.65 per share. However, at 12 PM, KPI Green's share price pared some gains and was up 3.95 per cent at ₹437.3 per share. In comparison, the BSE Sensex was up 0.45 per cent at 75,650.48, as reported by Business Standard.
The stock advanced after KPI Green's subsidiary Sun Drops Energia 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. This latest order brings the group's cumulative executed standalone BESS portfolio to 565 MW/1,130 MWh, according to Business Standard reports.
Under the agreement, Sun Drops Energia Limited will develop, own, and operate the standalone BESS project at two locations in Gujarat — 65 MW/130 MWh near the 220 kV Gariyadhar AIS Substation and 55 MW/110 MWh near the 220 kV Otha AIS Substation. The contracted battery energy storage capacity will be made available to GUVNL on a long-term basis, as reported by Business Standard.
The latest order follows the earlier executed 445 MW/890 MWh BESPA with GUVNL, and was awarded under GUVNL's Phase-VIII tariff-based competitive bidding process, supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF). The order is not a related party transaction and has been awarded by a domestic entity, according to Business Standard reports.
KPI Green Energy Limited is a Gujarat-based solar and hybrid power-generating company and the renewable energy vertical of the KP Group. Incorporated in February 2008, the company develops, builds, owns, operates, and maintains solar and hybrid power plants across two primary business models — as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) — under its brand name 'Solarism'. The company has been expanding its footprint across emerging renewable energy infrastructure opportunities, including utility-scale battery energy storage systems (BESS), positioning itself at the intersection of solar generation and grid-scale storage — a segment gaining significant policy and regulatory tailwind in India, as reported by Business Standard.
