India's KPI Green Energy Receives Letter of Intent for 76.6 MW Wind-Solar Hybrid Project

en.Wedoany.com Reported - India's KPI Green Energy has received a Letter of Intent (LoI) for a 76.6 MW DC-side wind-solar hybrid project, to be developed under the Group Captive model in Gujarat. The project comprises 33.6 MW of wind power and 33.6 MW AC-side/43 MW DC-side solar capacity. KPI Green Energy will undertake development, construction, and commissioning through a project special purpose vehicle (SPV). The project must be completed within 14 months of obtaining Stage-2 grid connectivity, and no later than December 31, 2027.

Once operational, the project will operate under an energy supply agreement for 25 years. The LoI has been issued by a domestic private enterprise in India. KPI Green Energy clarified that this project falls under its group captive renewable energy collaboration and does not constitute a related-party transaction. At this stage, the company has not disclosed the project investment amount, specific site location, number of wind turbines, module capacity, energy storage configuration, or the name of the power purchaser.

KPI Green Energy is currently expanding its three renewable energy business lines—IPP, group captive, and EPC—simultaneously. As disclosed at the end of fiscal year 2026, the company's operational IPP portfolio has reached 965 MWp. Key projects under execution include a 250 MW solar project, a 370 MW hybrid energy project, and a 150 MW standalone wind power project, with the first two scheduled for phased completion around September 2026. The company has also received a LoI for a 150 MW wind power project from GUVNL and has signed a battery energy storage service agreement for a 445 MW/890 MWh standalone energy storage project.

As of the end of August, KP Group disclosed that its renewable energy project portfolio has exceeded 9.2 GW. KPI Green Energy has also been advancing multiple large-scale projects in Khavda recently, including a 405 MWp project for Coal India, a 246 MWp project for SJVN, and a 1131 MWp solar engineering project implemented for Adani Group entities.

Although the scale of this 76.6 MW project is smaller than the utility-scale projects the company is currently advancing, its adoption of the group captive model combined with both wind and solar capacity will position it within the renewable energy supply scenario for commercial and industrial customers.