New Delhi: KPI Green Energy Limited has won an order worth about Rs 2,025 crore to build a 500 MW solar power project in Rajasthan's Bikaner district for NACOF Oorja Private Limited (NOPL). The company disclosed the order in a filing to the stock exchanges on Tuesday. It is a turnkey engineering, procurement and construction (EPC) contract for a plant of 500 MW, or 550 megawatt peak (MWp).
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NOPL is a subsidiary of NACOF, the National Federation of Procurement, Processing and Retailing Cooperatives of India. NACOF is a multi-state cooperative society. The project will sit inside a much larger park that NOPL is building. "The project of 500 MW forms part of the 5,000 MW Solar Photovoltaic Power Park being developed by NOPL at Village Dantoor, Tehsil Khajuwala, District Bikaner, Rajasthan," KPI Green said.
KPI Green will build the plant from end-to-end. "Under the Work Order, the Company will be responsible for the complete design, engineering, procurement, supply, installation, testing and commissioning of the plant," it said. That includes civil works, PV modules and their mounting structures, and the inverters and inverter transformers. It also covers the high-tension (HT) switchgear and associated electrical systems. Power will leave the plant through a 33 kV transmission line and evacuation bay, which are also part of the contract, as are the supervisory control and data acquisition (SCADA) and monitoring systems. The company said the project "is scheduled to be completed within 12 Months from the handing over of the project site."
This is not KPI Green's first large order in the district this year. "This order comes after the 500 MW / 550 MWp solar BOS package awarded to the Company by NTPC Renewable Energy Limited at Bikaner earlier this year and further strengthens the Company's position in Rajasthan," the company said. The NTPC Renewable Energy order covered the balance of system (BOS). The NACOF Oorja contract is wider in scope, since it also covers the PV modules. "As a full turnkey mandate, it also reflects the Company's end-to-end EPC capabilities in utility-scale solar," KPI Green said.
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The company also said what the order means for its business. "The order adds meaningfully to the Company's EPC order book and provides good revenue visibility over the coming year," it said.