KP Energy has bagged an order worth Rs 222 crore to develop wind energy projects for Aditya Birla Group. "The total value of the projects to be developed by KP Energy for Aditya Birla Group is Rs 2,220 Million (Rs 222 crore), with the scheduled commissioning in March 2023," a BSE filing said on Wednesday.
KP Energy stated that it has aligned with Aditya Birla Group, a global conglomerate headquartered in Mumbai for the development of the wind power project at Bhungar and Fulsar Site in Mahuva, Bhavnagar, Gujarat, under the Gujarat hybrid power policy 2018.
Parties have executed definitive contracts for the development of the project with Aditya Birla Renewables Solar Limited and AB REL Solar Power Limited ("Aditya Birla Group") and will further execute the contracts for phase-wise development of the projects, the filing said.
KP Energy will be inter-alia responsible for providing the turnkey balance of plant solution for the Project, including wind site locations, obtaining necessary approvals and development permits, wind data management, windfarm development works, electrical line network as well as complete power evacuation capacity from pooling substation to GETCO (Gujarat Energy Transmission Corporation) substation, it stated.
KP Energy has started receiving milestone payments against work completion of respective milestones, the statement added.
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