KPI Green Energy to develop 16.10 MW Hybrid Power Project at Bhavnagar, Gujarat

5 Sep 2022 , 10:45 AM

KPI Green Energy Limited informed that it is adding a power project to its own power-generating asset portfolio. The company is seeking to develop a Hybrid Power Project of 16.10 MW, which comprises 16.10 MW wind and 10 MWdc solar capacity.

The project is to be developed at the Bhungar site in Mahuva, at Bhavnagar, Gujarat, under the Gujarat hybrid power policy 2018.

The company stated that it has already achieved the requisite financial closure of Rs132 crore from the State Bank of India (SBI). Furthermore, the company has arranged long-term PPAs in advance with various corporate parties for the sale of power generated out of the hybrid power project upon commissioning.

The company has scheduled the project to be commissioned in March 2023.

At around 10.50 AM, KPI Green Energy was trading 0.82% lower at Rs886.25, against previous close of Rs893.60 on NSE. So far, it hit intraday high and low of Rs919.45 and Rs882 respectively.

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