KPI Green subsidiary signs BESPA with GUVNL for 445 MW BESS projects

KPI Green Energy Limited has announced that its subsidiary, Sun Drops Energia Limited, has signed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) to develop independent power producer (IPP) standalone battery energy storage system (BESS) projects.

The agreement covers projects with an aggregate capacity of 445 MW / 890 MWh to be implemented at multiple locations across Gujarat. The projects were awarded through a tariff-based competitive bidding process conducted by GUVNL under Phase-VII. The programme is supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF).

The BESPA execution follows the issuance of a Letter of Intent (LoI) by GUVNL on January 3, 2026, which the company had previously disclosed.

Under the terms of the agreement, Sun Drops Energia will develop, own and operate the standalone BESS projects. The company will provide the contracted battery energy storage capacity to GUVNL under a long-term arrangement.

According to the company, the agreement marks a key step as it moves into the implementation phase of its first utility-scale IPP BESS project. The development also expands the group’s activities in emerging segments of the renewable energy sector.

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