Captains Speak     

Published: April 15, 2024
Updated: April 15, 2024

KP Energy

Grabs order for Birla wind-solar power project

KP Energy, Gujarat’s prominent solutions provider in wind energy, encompassing conceptualization to commissioning of wind energy and a wind-solar hybrid power projects, has received an order from Aditya Birla Renewable Energy for the development of a 23 MW windsolar hybrid power project.

KP Energy will be responsible for various aspects of the project, including Engineering, Procurement, Construction and Commissioning (EPCC). This entails tasks such as land acquisition, design, manufacturing, supply, construction, erection, testing, and commissioning for the balance of the plant. The company will also handle the securing of necessary approvals and permits for the project’s execution. The project is scheduled for completion in FY 2024-25.

CORE REVENUE

Analysing the performance of the company for Q3 FY2024, Mr Patel said that for the quarter ended December 2023, the company reported revenue of Rs 83.30 crore, up 17%. The revenue from core activities (development of renewable infrastructure), which constitutes more than 90% of total revenues, increased to Rs 76.84 crore, up 19.26%. The company’s net profit of Rs 9.26 crore was up 13.20% on a consolidated basis. For the nine months, net profit increased 15% to Rs 32.68 crore.

According to Mr Patel, in the IPP segment the company has 18.4 MW renewable power generating plants under the company’s Independent Power Producer (IPP) segment, comprising a 10 MW DC solar power project and an 8.4 MW wind power project. The green energy generated inter alia is being sold to C&I (Commercial and Industrial) customers through the third-party sale mechanism under Open Access. Further, the company has placed an order for wind turbines, representing a capacity of 30.1 MW, with Suzlon, at the Vagra site in Bharuch district as part of the company’s IPP segment.

In the EPC segment, the company is in an advanced stage of discussions with an Indian multinational conglomerate for development of larger capacity orders of wind power projects.

The company commissioned an additional 25.2 MW, phase-VI interstate transmission system (ISTS)-connected wind power project at the Sidhpur site in Devbhoomi Dwarka, Gujarat.

The project comprises 12 wind turbine generators of 2.1 MW each. The phase-VI commencement is a component of the 250.8 MW wind power project capacity connected to ISTS (Inter-State Transmission System), which Apraava Energy secured from Solar Energy Corporation of India through tranche-VIII bidding. KP Energy is overseeing the project’s development on behalf of Apraava Energy as a contractor, managing both the land and the balance of the plant under the contract. Following the recent Phase-VI initiation, the total cumulative capacity commissioned at the Sidhpur site is now 163.8 MW (comprising 52.5 MW + 29.4 MW + 25.2 MW + 21 MW+ 10.5 MW + 25.2 MW), in contrast to the originally awarded capacity of 250.8 MW.

NTPC PROJECT

Earlier, the company had received a Notification of Award for the 464.10 MW Balance of System of the ISTSconnected wind energy project from NTPC REL. Project activities have been initiated for this project and revenue from the project will start from Q3FY2024. Project activities have commenced and are in the initial stages. NTPC Green Energy Limited (NGEL), the holding company of NTPC REL, has collaborated with Indian Oil Corporation Limited (IOCL) to supply Renewable Energy Round the Clock (RTC) power to meet their requirements and has formed a joint venture company named Indian Oil NTPC Green Energy Private Limited (INGEL). Pursuant to the formation of INGEL, it has been decided to allocate the contracts for the Balance of System Package for 308.49 MW (Nominal Capacity) wind energy project awarded by NTPC REL in Gujarat to INGEL out of the originally awarded 464.10 MW capacity by NTPC REL.