KP Energy Secures 100 MW Wind Power Project from SECI, Boosting IPP Portfolio to 150 MW
Mumbai: K.P. Energy Limited (BSE: 539686, NSE: KPEL) today announced a significant milestone, having received a Letter of Award (LoA) from the state-owned Solar Energy Corporation of India Limited (SECI). The award is for the development of a 100 MW Inter-State Transmission System (ISTS)-connected wind power project under the Independent Power Producer (IPP) segment.
The project was secured through a tariff-based competitive bidding process under SECI's Tranche XIX and will be located in Gujarat. With a discovered tariff of ₹3.67 per kilowatt-hour (kWh), the company is now set to execute a Power Purchase Agreement (PPA) with SECI.
Key Highlights of the Project:
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Capacity: 100 MW (ISTS-connected wind power project)
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Awarding Agency: Solar Energy Corporation of India Ltd. (SECI)
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Location: Gujarat
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Discovered Tariff: ₹3.67/kWh
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Execution Timeline: Commercial operation (supply of full capacity) must commence within 24 months from the PPA's effective date.
Strategic Significance for KP Energy:
This award marks a pivotal expansion for KP Energy’s own power generation business. Upon the execution of the PPA and subsequent development, the company’s IPP portfolio will grow to approximately 150 MW. This reinforces the company’s strategic focus on building a substantial IPP asset base alongside its core Engineering, Procurement, and Construction (EPC) contracting business.
The company stated that this achievement underscores its capabilities as a reliable partner in executing utility-scale renewable energy projects under competitive bidding frameworks. The move aligns with national goals for clean energy expansion and positions KP Energy favorably in the growing renewable IPP market.
The company confirmed that the order is a domestic award, does not constitute a related party transaction, and that no promoter or group companies have any interest in SECI.