KPI Green Energy Ltd has commissioned a 26.1-MW wind-solar hybrid power project in Bhavnagar, Gujarat. The project comprises 16.1 MW wind and 10 MW solar power generating capacity at the Bhungar site in Bhavnagar, which has been set up under the Gujarat Wind-Solar Hybrid Power Policy 2018.

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The Gujarat-based developer of solar power plants has already entered into power purchase agreements for selling the power generated for the said wind-solar hybrid project to the commercial and industrial (C&I) clients, the company informed the stock exchanges on Tuesday.

Earlier this month, the company received approval from the Chief Electrical Inspector to the Government (CEIG) for charging its 61.97 megawatt (MW) solar and wind-solar hybrid capacity in Bhavnagar. This included the charging of a 26 MW wind-solar hybrid project, comprising 16 MW wind and 10 MW solar capacity, for the Bhungar site, under the company’s own power-generating asset portfolio.

Additionally, it also charged 1.01 MW solar capacity in the independent power producer (IPP) segment and 34.86 MW capacity in the company's captive power producer (CPP) segment.

The solar energy arm of the KP Group, also recently executed an agreement with UAE-based Tristar Transport to develop renewable energy projects in multiple countries across the world.

As per the agreement, KPI Green Energy will develop eco-friendly energy solutions across multiple regions, including India, the Middle East, Africa, Asia Pacific, America, and Europe. The joint agreement involves the utilisation of the respective expertise of both entities to identify and execute renewable energy projects, such as wind, solar, green hydrogen, and green ammonia projects.

Surat-based KPI Green Energy develops, builds, owns, operates, and maintains solar power plants. It has also now ventured into solar-wind hybrid power.

Shares of KPI Green Energy Ltd were trading 0.53 percent higher at Rs 488 apiece on BSE at 11:52 am on Wednesday.

First Published:Apr 26, 2023 1:37 PM IST