India’s KPI Green Energy secures LOI for 76.6-MW hybrid project

The project combines 33.6MW wind with 43MW DC solar.

India’s KPI Green Energy has received a letter of intent (LOI) to develop a 76.6-megawatt (MW) direct current (DC) wind-solar hybrid power project in Gujarat under a group captive arrangement.

The project will comprise 33.6 MW of wind capacity and 33.6 MW alternating current, or 43 MW DC, of solar capacity.

KPI Green Energy will develop, construct, and commission the project through a special purpose vehicle.

The company said it must complete the project within 14 months of Stage-2 connectivity and no later than 31 December 2027.

The project will operate for 25 years from the commencement date of the Energy Supply Agreement.

The LOI was issued by a domestic private body corporate. KPI Green Energy said the project forms part of a group captive renewable energy partnership.

“The project strengthens the Company’s presence in the C&I and Group Captive renewable energy segments, enhances its wind, solar, and hybrid capabilities, and adds to its order book,” the company said.

KPI Green Energy said the project supports its strategy of pursuing IPP, group captive, and EPC opportunities.

The company said the awarding entity has no interest in KPI Green Energy’s promoter or promoter group, and the contract does not fall under related-party transactions.