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KPI Green's Arm Signs Pact to Develop Battery Energy Storage System in Gujarat, India; Shares Up 4%

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Sun Drops Energia, a subsidiary of KPI Green Energy (NSE:KPIGREEN, BOM:542323) has entered into a battery energy storage purchase agreement (BESPA) with Gujarat Urja Vikas Nigam to develop a standalone battery energy storage system (BESS) project, according to a Tuesday filing to the Indian stock exchanges.

The project will have an aggregate capacity of 120 MW/240 MWh across Gujarat.

Under the pact, Sun Drops Energia will develop, own, and operate the standalone BESS Project at locations around the 220kV Gariyadhar AIS substation (65 MW / 130 MWh) and 220kV Otha AIS substation (55 MW / 110 MWh) in Gujarat, India.

It will make the contracted battery energy storage capacity available to GUVNL on a long-term basis.

The company's shares were up over 4% in recent trade.

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