By Marc Howe
Gujarat-based KP Group has entered into a framework agreement with wind turbine maker Senvion India for the joint development of 2GW wind and wind-solar hybrid projects around India over the next three years. The agreement, executed via KP Group entities KPI Green Energy, KP Energy and KP Green Engineering, is for site identification as well as project development, including land acquisition, statutory permits and approvals, and balance of plant execution.
In September, KPI Green Energy, the renewable arm of KP Group, obtained a Rs$32bn (US$360.77m) loan from State Bank of India fund a 250MW solar project and 370MW hybrid project in Gujarat. The projects are under development in Bharuch and Surendranagar and underpinned by 25-year power purchase agreements with Gujarat Urja Vikas Nigam.