Bengaluru (Karnataka) [India], January 3: KPI Green Energy Ltd. (KPI) and the leading solar panel manufacturer, Emmvee Photovoltaic Power Pvt. Ltd. have finalized a significant deal for supply of 300MWp of Bifacial Monoperc Solar panels.
KPI Green Energy Ltd. will install these panels, particularly for the development of a 240-megawatt solar plant in the Khavda village of Gujarat, India, for supplying power to Gujarat Urja Vikas Nigam Limited. The agreement between KPI Green Energy Ltd. and Emmvee was formalized on December 30, 2023. The installation of these panels is crucial for the development of the solar plant in Khavda.
In this context, high-quality international standard solar panels will be supplied by Emmvee. The panels will be utilized for KPI Group‘s own solar park in Khavda, adding to the company’s commitment to the Gujarat's dream as well as Honourable Prime Minister's dream of reaching 500GW of renewable power by 2030. Emmvee aims to complete this delivery between June-2024 and May 2025, with some batches being delivered as early as March-2024. The warranty for these panels is set for 30 years.
It’s worth noting that KPI Green Energy Ltd., a subsidiary of KP Group and listed on NSE and BSE, has recently secured a significant QIP of Rs. 300 crore. The company has an ongoing project in Khavda, Gujarat, and is making substantial progress. KPI Green Energy Ltd. has already an order book of more than 750MW as on date and aims to achieve a target of 1 gigawatt by 2025.
Commenting on the deal, Dr. Faruk G. Patel, CMD of KP Group., stated that the business relationship with Emmvee has been strong even before this deal primarily due to Emmvee's commitment towards a quality product. The decision to purchase 300 megawatts of solar panels reaffirms our commitment of timely completing the Khavda project for supplying power to Gujarat Urja Vikas Nigam Limited and advancing towards a green energy revolution.
Mr. Manjunatha D.V., CMD of Emmvee Group., expressed enthusiasm about the agreement, stating that the deal with KPI Green Energy Ltd. in this landmark project of Khavda is exciting as it enhances Emmvee's footprint in Gujarat. The commitment of KPI Green Energy Ltd. aligns with the vision of Emmvee to advance towards high-quality, reliable, and sustainable green energy development.
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