About KPI Green Energy Limited

KPI Green Energy Limited, founded in 2008 and headquartered in Gujarat, develops, builds, owns, operates, and maintains renewable assets across solar, wind, and hybrid formats under IPP and CPP models, with 950 MW cumulative capacity energised by March 31, 2025 and a 2.96 GW project pipeline across India’s high-potential states as it scales toward KP Group’s 10 GW ambition by FY30 as part of a 50-entity renewable ecosystem established by Dr. Faruk G. Patel in 1994. The company operates 77 active sites, supported by 3.26 GW power evacuation capacity and a 5,946-acre owned/leased land bank, and leverages IBM Maximo-powered NOC, SCADA, trackers, bi-facial modules, and in‑house waterless robotic cleaning to enhance uptime and yields for over 200 client assets monitored centrally. Activities include third‑party power sales under long‑tenor PPAs, turnkey CPP solutions with OM annuities, and hybrid plus BESS pilots; operating geographies span Gujarat and Maharashtra with ongoing expansion into Rajasthan, Madhya Pradesh, Odisha, and Andhra Pradesh through MoUs and awards such as MAHAGENCO 135 MWp and GUVNL utility-scale wins including 240 MWp Khavda IPP and a 405 MWp CPP for Coal India Limited. Key milestones include listing migration to main boards (2021), rebranding to KPI Green Energy Limited (2023), doubling installed capacity from 445 MW to 950 MW in FY25, successful QIPs of Rs 300 crore and Rs 1,000 crore in FY24–FY25, and ICRA’s long‑term rating upgrade to ICRA A with Positive outlook alongside reaffirmed short‑term ICRA A2. As of FY25, consolidated revenue reached Rs 1,755 crore, EBITDA Rs 581 crore, and PAT Rs 325 crore, supported by a stronger balance sheet (debt‑to‑equity improved), while the flagship 240 MWp Khavda plant exemplifies scale, speed, and technology adoption with IoT robotic cleaning and centralized operations.

KPI Green Energy Limited Business Segment

• IPP (Independent Power Producer): 503 MW energised; 1.20 GW in pipeline; long‑tenor PPAs with utilities and commercial buyers; hybrid portfolio within IPP at 136 MW; Khavda 240 MWp operational and additional GUVNL wins for solar and hybrid capacity.

• CPP (Captive Power Producer): 447 MW energised; 1.76 GW in pipeline; turnkey captive projects with grid connectivity to GETCO/DISCOM substations; hybrid portfolio within CPP at 107 MW; OM contracts aligned with PPA terms provide annuity revenues.

• Hybrid and Storage: 243 MW hybrid energised; 1.14 GW hybrid pipeline; pilots in BESS (5 MW captive) to enable round‑the‑clock renewable supply and grid resilience under Gujarat’s hybrid policy framework and national storage push.

Business Segments (revenue mix and geography)

• Segment revenue split: IPP 13%; CPP 87% in FY25.

KPI Green Energy Limited Key Management

• Dr. Faruk G. Patel — Chairman and Managing Director.

• Dr. Alok Das — Group Chief Executive Officer.

• Mr. Surinder Kumar Negi — Chief Operating Officer.

• Mr. Salim Yahoo — Chief Financial Officer.

• Ms. Rajvi Upadhyay — Company Secretary and Compliance Officer.

Latest Updates on KPI Green Energy Limited

• Raised Rs 1,000.00 crore through a second QIP in FY25; earlier maiden QIP of Rs 300.00 crore completed in FY24 to support accelerated growth.

• Won GUVNL Tender‑I for 250 MW AC (275 MW DC) solar and GUVNL Tender‑II for 370 MW AC (642 MW DC) hybrid; executed PPA for a 50 MW hybrid project.

• Awarded MAHAGENCO 135 MW DC solar project across Maharashtra; won 300 MW AC solar at Khavda and executed 240 MWp IPP at Khavda.

• Secured 405 MWp solar CPP order from Coal India Limited at Khavda, the largest CPP order for the company to date.

• Signed MoUs with Governments of Rajasthan, Odisha, and Madhya Pradesh for large‑scale renewable projects; launched centralized NOC and scaled IoT‑enabled robotic cleaning fleet.

ICRA upgraded long‑term rating to ICRA A with a positive outlook and reaffirmed short‑term ICRA A2.