KPI Green Energy Shares Rally 5% on Bagging 120 MW Order 

Shares of KPI Green Energy Ltd climbed nearly 5% on Tuesday, 19 May, after the company announced a fresh battery energy storage project win through its subsidiary, Sun Drops Energia. 

The rally followed the execution of a Battery Energy Storage Purchase Agreement (BESPA) between Sun Drops Energia and Gujarat Urja Vikas Nigam Limited (GUVNL) for a 120 MW/240 MWh standalone Battery Energy Storage System (BESS) project in Gujarat. 

With this latest agreement, KPI Green Group’s cumulative executed standalone BESS portfolio has expanded to 565 MW/1,130 MWh, strengthening its position in India’s fast-growing energy storage segment.

The project was awarded under GUVNL’s Phase-VIII tariff-based competitive bidding process and will receive support through Viability Gap Funding (VGF) under the Power System Development Fund (PSDF). 

As part of the agreement, the company will develop, own, and operate the storage facilities at two Gujarat locations, a 65 MW/130 MWh system near the 220 kV Gariyadhar AIS Substation and a 55 MW/110 MWh system near the 220 kV Otha AIS Substation. The storage capacity will be supplied to GUVNL under a long-term arrangement.

Over the last six months, KPI Green Energy has continued to expand its renewable energy portfolio through multiple regulatory and project updates, including growth across solar, hybrid, and energy storage assets. The company has increasingly focused on utility-scale storage infrastructure as India accelerates renewable integration and grid stability initiatives.

Founded in 2008, KPI Green Energy operates across Independent Power Producer (IPP) and Captive Power Producer (CPP) models under its “Solarism” brand and remains focused on scaling clean energy infrastructure across India.

Around noon, the stock continued to trade firmly higher at Rs 438.3, outperforming the broader market, while the BSE Sensex rose modestly.

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