Gujarat-based KPI Global has announced the signing of power supply agreements with nine industrial customers for solar projects aggregating to 13.15 MW under the independent power producer category.
The off-takers include Cadila Healthcare (1.7 MW), Ginni Filaments (1.2 MW), Palsana Enviro Protection Limited (3 MW), Pratibha Fabrics (1 MW), Sachin Paper Mills (0.60 MW), Yes Fashions (1.25 MW), United Phosphorous Limited (1.2 MW), United Phosphorous Limited (1.40 MW) and Super Deluxe Paper Mills (1.80 MW).
KPI added 25.762 MW as an independent power producer in the year 2019-20, up 172% from the previous year—taking the cumulative capacity to 40.762 MW. The developer’s cumulative ‘captive mode’ portfolio stood at 6.2 MW.
In August last year, it announced the sanctioning of an INR 107.50-crore debt funding by Power Finance Corporation Limited (PFC) for an aggregate 35 MW solar capacity.
Of the approved funding, KPI intended to use INR 31.50 crore to refinance its existing 15 MW plant earlier financed by State Bank of India and INR 76 crore towards setting up a new 20 MW power project at Bharuch in Gujarat.
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