KPI Green Subsidiary Signs Major BESS Agreement with GUVNL for 445 MW Energy Storage Project

Mumbai, March 7, 2026: KPI Green Energy Limited has announced that its subsidiary Sun Drops Energia Limited has signed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of 445 MW / 890 MWh standalone Battery Energy Storage System (BESS) projects in Gujarat.

The announcement was made through a regulatory filing with both the BSE Limited and the National Stock Exchange of India Limited.

Large-Scale Energy Storage Projects in Gujarat

Under the agreement, Sun Drops Energia Limited will develop, own, and operate the standalone BESS projects at multiple locations across the state of Gujarat.

The projects will have a combined capacity of 445 MW / 890 MWh, and the company will provide the contracted battery energy storage capacity to GUVNL on a long-term basis.

Project Awarded Through Competitive Bidding

The agreement follows a tariff-based competitive bidding process conducted by GUVNL for the procurement of standalone BESS capacity under Phase VII.

The initiative is supported by Viability Gap Funding (VGF) provided through the Power System Development Fund (PSDF) to promote large-scale energy storage infrastructure.

Major Step into Utility-Scale Energy Storage

According to the company, the signing of the BESPA represents a significant milestone as the group moves into the implementation phase of its first utility-scale Independent Power Producer (IPP) battery energy storage project.

The development is expected to strengthen KPI Green Energy’s presence in emerging segments of the renewable energy ecosystem, particularly in energy storage solutions that support renewable power integration.

Shares of the company trade on the stock exchanges under the symbol KPIGREEN.