KPI Green Energy has secured a major engineering, procurement and construction (EPC) contract worth Rs 489.17 crore from Gujarat State Electricity Corporation (GSECL) for a floating solar photovoltaic project.
The company informed the regulatory filing that the project is to build a 142 MW (DC) / 110 MW (AC) floating solar plant at the Kadana Dam reservoir in Gujarat’s Mahisagar district.
KPI Green Energy enters floating solar space
The company highlighted that the floating solar installation will integrate solar power generation with floating PV technology. The order marks KPI Green Energy’s entry into the floating solar space. The project also expands its portfolio beyond ground-mounted and rooftop solar.
Order details: 18-month completion timeline
The scope of work covers complete design, engineering, procurement, construction and installation of the floating solar system. It also includes grid connection infrastructure such as a 33 kV underground transmission line to the pooling station, and 33/220 kV bays at the Kadana substation.
The company will also handle operations and maintenance for 10 years. The project is scheduled to be completed within 18 months.
Commenting on the development, the company said: “Winning the 110 MW floating solar EPC contract from GSECL is a major milestone for KPI Green Energy and the KP Group. It expands our portfolio into next-gen floating solar technology, reinforces our full-service EPC credentials, and underscores our commitment to driving India’s energy transition. We look forward to executing this project safely, on time, and to the highest quality standards.”
Share price of KPI Green Energy
The share price of KPI Green Energy has declined 21.43% so far this year.
