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KPI Green Energy Subsidiary Signs BESPA with GUVNL for 445 MW/890 MWh Battery Storage Projects in Gujarat

KPI Green Energy, part of the KP Group, has announced that its subsidiary Sun Drops Energia has entered into a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam (GUVNL). The agreement focuses on developing self-owned Independent Power Producer (IPP) standalone Battery Energy Storage System (BESS) projects with a total capacity of 445 MW/890 MWh across Gujarat.

The agreement follows a tariff-based competitive bidding process conducted by GUVNL for procuring standalone BESS capacity under Phase-VII. This initiative is supported through viability gap funding (VGF) provided by the Power System Development Fund (PSDF). Earlier in January 2026, the company had received a Letter of Intent (LoI) for the project.

According to the terms of the BESPA, Sun Drops Energia will be responsible for developing, owning, and operating the standalone BESS facilities at several locations in Gujarat. The stored energy capacity from these systems will be supplied to GUVNL under a long-term agreement, ensuring stable energy storage support for the state’s power infrastructure.

The company stated that signing the BESPA represents a major step forward as it moves into the implementation phase of its first utility-scale IPP battery storage project. This development also strengthens KPI Green Energy’s presence in emerging segments of the renewable energy sector, particularly energy storage.

Currently, KPI Green Energy’s combined installed and upcoming renewable energy capacity exceeds 4.74 GW, which includes 2.17 GW in the IPP segment and 2.57 GW under the Captive Power Producer (CPP) segment. The company also holds an order book of 3.61 GW, offering strong visibility for future revenues. Its installed capacity has already crossed 1.12 GW, supported by a land bank of nearly 6,999 acres and power evacuation capacity of more than 3.57 GW.

Looking ahead, KP Group has set an ambitious target of achieving over 10 GW of renewable energy capacity by the year 2030, reflecting its commitment to expanding India’s clean energy infrastructure.