KPI Green Energy forms new SPV for renewable projects

KPI Green Energy Limited has established a Special Purpose Vehicle (SPV), named KPIN Clean Power One LLP. The SPV will focus on renewable energy generation and distribution.

The SPV, KPIN Clean Power One LLP, was incorporated with contributions of Rs. 99,000 from KPI Green Energy and Rs. 1,000 from its wholly owned subsidiary, KPark Sunbeat Private Limited. The entity has not yet started business operations.

KPIN Clean Power One LLP will operate in the renewable energy sector. Its objective includes generating, developing, transforming, transmitting, distributing, and supplying electrical energy from wind, solar, or other renewable sources. No additional regulatory approvals were required for its incorporation.

The SPV was registered with the Registrar of Companies in Ahmedabad. No acquisitions, share swaps, or related party transactions are involved, and the entity is wholly owned by KPI Green Energy Limited and its subsidiary.

Earlier this month, KPIG Energia Private Limited, a subsidiary of KPI Green Energy, received a letter of award from Aditya Birla Renewables Limited for a solar balance of system project at Mahua, Gujarat.