Gujarat-based KPI Green Energy has ventured into wind-solar hybrid power generation with a 16.10 MW project under development (16.10 MW wind and 10 MW DC solar capacity). The developer will build this plant at Bhungar site in Mahuva, at Bhavnagar, Gujarat, under the Gujarat hybrid power policy 2018.
The project is set for commissioning in March 2023. The company has achieved financial closure of INR 132 crore from the State Bank of India for the project.
KPI has also arranged long-term power purchase agreements to sell power generated from the hybrid power project upon commissioning.
KPI Green supplies power as an independent power producer (IPP) and captive power producer (CPP) under the Solarism brand. It has commissioned over 165 MW of solar capacity till June 30, 2023. The company targets 1 GW capacity by 2025, with 750 MW as a captive power producer and 250 MW as an independent power producer.
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