KPI Green Energy to set up 250 MW solar park in Bharuch
KP Group has committed to invest Rs.17,690 crores in Gujarat on different renewable energy projects including the setting up of a green hydrogen plant.
KP Group has proposed to invest Rs.16,690 crores for 2,675 MW wind, solar and hybrid power projects at multiple locations in the state.
It has pledged an investment of Rs.1,000 crores on a green hydrogen plant which is expected to be operational next year.
The group has signed two MoUs with the State Government in the presence of Chief Minister Bhupendrabhai Patel and senior ministers in Gandhinagar on 3 Jan 2024 ahead of the 10th edition of the Vibrant Gujarat Global Summit to be held 10-12 Jan.
Commenting on the development, Group CMD Dr Faruk G Patel said, “It is our privilege to sign MoUs for 2.6+ GW of solar, wind and hybrid power projects in Gujarat with the government of Gujarat.
“These MoUs mark a significant stride towards powering India’s green energy future by decarbonising the economy and reducing the country’s dependence on fossil fuel imports. These projects are scheduled to initiate operations from 2024 to 2026, solidifying KP Group’s prominent role as a frontrunner in the Indian renewable energy sector.”
As part of the MoUs, KP Group company, KPI Green Energy, will establish a 250 MW solar park in Bharuch with an investment of Rs.1,000 crores and a 200 MW solar park in Kutch with an investment of Rs.800 crores.
The group will invest Rs.1,875 crores for a 250 MW wind park in Surendranagar and Bhavnagar and a further Rs.5,500 crores for a 500 MW hybrid park in Bharuch, Bhavnagar and Kutch, 475 MW wind park in Kutch and Devbhumi Dwarka with an investment of Rs.3,565 crores.
KP Group will also allocate Rs.1,700 crores for a 1,000 MW hybrid solar park in Kutch and a world-class fabrication plant with an investment of Rs.2,250 crores in Bharuch. Fiinews.com
