KPI Green Energy Signs EPC and O&M Contract Worth ₹696.50 Crore with SJVN for 200 MW Solar Project

KPI Green Energy Limited announced on November 14, 2025, that it has signed contract agreements with SJVN Limited for the execution of a 200 MW solar power project at the GIPCL Renewable Energy Park, Khavda, Gujarat, as per the exchange filings. 

KPI Green Energy Contract Details and Value

The contract, aggregating to ₹696.50 crore excluding GST, reinforces KPI Green's position as a credible and trusted EPC partner for large-scale renewable projects. The project is being executed through 3 separate contracts: the Supply Contract, EPC Contract, and O&M Contract, which collectively establish a turnkey responsibility for KPI Green during the construction and initial operational phase.

The company will undertake the supply of all plant and equipment required for the 200 MW solar project, along with erection, installation, and construction activities covering all civil, architectural, and structural works at the project site. Comprehensive Operation and Maintenance of the project for 3 years post COD is included, along with O&M spares and consumables.

Project Scope and Location

Under the executed agreements, KPI Green will undertake unloading, handling, storage, and insurance coverage of plant and equipment supplied under the contracts. The scope includes testing, commissioning, and performance demonstration, including operational acceptance as per contractual requirements.

Khavda Renewable Energy Park Expansion

The Khavda Renewable Energy Park is poised to become the world's largest renewable energy installation, representing a high-priority clean energy development zone in India. With this project, KPI Green further expands its footprint in Khavda to over 845 MWp, enhancing its position as an emerging key EPC service provider in one of India's most strategically important renewable corridors.

Management Commentary

Reflecting on this development, Dr Faruk G. Patel, Chairman and Managing Director, said: "We are delighted to execute the contract with SJVN for the 200 MW project at Khavda. Securing and now formally entering into this agreement with a leading Government of India enterprise underscores KPI Green’s credibility and proven ability to deliver large-scale renewable energy projects. We are fully committed to delivering the project within the stipulated timelines and to the high-quality standards that define our approach."

KPI Green Energy Share Price Performance

On November 14, 2025, KPI Green Energy share price opened at ₹470.40 on NSE, below the previous close of ₹471.80. During the day, it surged to ₹476.00 and dipped to ₹466.40. The stock closed at ₹469.40 by the end of the day. The stock registered a moderate decline of 0.51%.

Over the past week, it has declined by 3.03%, over the past month, it has moved up by 2.15%, and over the past 3 months, it has declined by 7.63%.

Read More: SJVN Q2 FY26 Earnings Results: Profit Falls 30% to ₹308 Crore; Board Approves ₹1,000 Crore Fundraise!

Conclusion

KPI Green Energy Limited signed a ₹696.50 crore EPC and O&M contract with SJVN Limited on November 14, 2025, for a 200 MW solar power project at GIPCL Renewable Energy Park, Khavda, Gujarat. The contract includes supply, installation, commissioning, and 3 years of O&M services, expanding KPI Green's footprint in Khavda to over 845 MWp.

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