KPI Green wins EPC contract for 142 MW floating solar project

KPI Green Energy Limited has received an EPC contract from Gujarat State Electricity Corporation Limited for a 142 MW (DC) / 110 MW (AC) floating solar project at the Kadana Dam reservoir in Mahisagar district. The company disclosed the development in a filing on 02 December 2025, stating that the order is valued at about Rs 489.17 Crore.

The project will be a full turnkey package that covers design, engineering, construction, and installation of the floating PV system. It also includes associated grid works, such as a 33 kV underground transmission line and new bays at the Kadana substation. KPI Green will manage the plant under a 10-year O&M agreement. The company has 18 months to complete the work.

Company leadership called the order an important step for its expansion into floating solar. Dr. Faruk G. Patel, Chairman and Managing Director of KP Group, said the contract strengthens the company’s position in the EPC space. KPI Green added that the order is a domestic contract and is not a related party transaction.

The featured photograph (Source: NTPC Ltd) is for representation only.