KPI Green Energy Limited, through its subsidiary Sun Drops Energia Limited, has signed a significant agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) to develop a 120 MW battery energy storage system.
This development marks a substantial addition to the company's renewable energy initiatives.
On May 19, 2026, Sun Drops Energia Limited, a subsidiary of KPI Green Energy Limited, executed a Battery Energy Storage Purchase Agreement (BESPA) with GUVNL.
The agreement involves the development of a 120 MW / 240 MWh standalone battery energy storage system (BESS) project.
This project is part of GUVNL's Phase VIII tender, supported by Viability Gap Funding through the Power System Development Fund.
The project will be developed at two locations in Gujarat: 65 MW / 130 MWh near the 220kV Gariyadhar AIS Substation and 55 MW / 110 MWh near the 220kV Otha AIS Substation.
Sun Drops Energia Limited will own and operate the project, providing the contracted battery storage capacity to GUVNL on a long-term basis.
This new agreement follows a previous 445 MW / 890 MWh BESPA with GUVNL, bringing KPI Green Energy's total standalone BESS portfolio to 565 MW / 1,130 MWh.
The execution of this agreement underscores the company's commitment to expanding its presence in the utility-scale BESS segment.
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The execution of the BESPA with GUVNL represents a significant milestone for KPI Green Energy.
It highlights the company's strategic focus on enhancing its renewable energy infrastructure and capitalising on emerging opportunities in the sector.
The agreement also reinforces KPI Green Energy's role in supporting Gujarat's energy storage capabilities.
As of May 19, 2026, at 10:57 AM, KPI Green Energy share price on NSE was trading at ₹438.60 up by 4.12% from the previous closing price.
KPI Green Energy's agreement with GUVNL for a 120 MW battery energy storage system marks a notable advancement in its renewable energy strategy. By expanding its BESS portfolio to 565 MW, the company strengthens its position in the utility-scale energy storage market.
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Published on: May 19, 2026, 11:06 AM IST
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