New Delhi: KPI Green Energy Limited has secured a major engineering, procurement and construction (EPC) contract from Gujarat State Electricity Corporation Limited (GSECL) for a 142 MW (DC) / 110 MW (AC) floating solar project at the Kadana Dam reservoir in Mahisagar district. The order is valued at Rs 489.17 crore, according to the details submitted to the stock exchanges by the company on Tuesday.
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The company called it a landmark order that strengthens its position in large-scale renewable energy infrastructure. The project marks a strategic diversification for the company into floating solar photovoltaic (FSPV) systems.
According to the filing, the contract includes full turnkey responsibilities — design, engineering, procurement, construction and installation — as well as the associated grid-connection infrastructure. This will involve a 33 kV underground transmission line to the pooling station and 33/220 kV bays at the Kadana substation. A 10-year operation and maintenance contract is part of the scope, with completion scheduled within 18 months.
Commenting on the award, Dr Faruk G Patel, Chairman and Managing Director (CMD), KP Group, 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.”
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The filing added that the project broadens KPI Green Energy’s EPC capabilities across ground-mounted, rooftop and floating solar segments.