KP Energy Limited has aligned with CLP India Private Limited for developing a 250.8MW wind site
KP Energy had signed a Memorandum of Understanding in June 2019 with M/s. CLP India Private Limited (“CLP India”) to offer wind sites in the range of 50-300MW. Based on the said Memorandum of Understanding, KP Energy Limited had offered the Sidhpur Site to CLP India for its evaluation.
Pursuant to the same, a Pre-Bid Collaboration and Development Agreement was signed between KP Energy & CLP India for a wind site of approx. 300MW for SEC! bid. This is first instance where KP Energy has tied up directly with an Independent Power Producer for windfarm development (previously such arrangements were dealt through OEMs).
CLP India has now received the confirmation from Solar Energy Corporation of India Limited (“SECI”) of their winning the bid under SECI Tranche – VIII for 250.8MW at Sidhpur Site at Dwarka offered by KP Energy, which is proposed to be connected with ISTS network Substation at Jam Khambhaliya, Gujarat (“Project”) and a copy of the said confirmation has been shared by CLP India with KP Energy.
KP Energy is pleased to align with CLP India, which is jointly owned by CLP Group, one of the largest investor-owned power businesses in Asia, and Caisse de depot et placement du Quebec (CDPQ), one of Canada’s leading institutional fund managers. Since 2002, CLP India has gradually grown its footprint to become one of the largest foreign investors in the Indian power sector. The diversified generation portfolio includes renewable and conventional energy, aggregating over 3,000 MW. CLP India’s fourteen wind energy projects and three solar energy projects span across seven states. It also owns a coal-fired power plant in Haryana and a gas based combined cycle power plant in Gujarat. Recently, CLP India has entered an agreement with Kalpataru Power Transmission Limited to acquire three of its, power transmission projects.
KP Energy, as part of its arrangement with CLP India for the said 250.8 MW Wind Project, will be responsible for providing turnkey balance of plant solution for the Project, including procuring windsite locations, obtaining necessary approvals and development permits, wind data management, windfarm development works, electrical network as well as the complete Power Evacuation Infrastructure comprising 220kV dedicated lines and Pooling Substation at Sidhpur Site, Dwarka.
As per the arrangement between the Parties, detailed definitive agreements will be signed upon completion of technical & physical assessments which are presently in progress.
Shares of K.P. Energy Ltd was last trading in BSE at Rs.171 as compared to the previous close of Rs. 180. The total number of shares traded during the day was 1075 in over 8 trades.
The stock hit an intraday high of Rs. 179 and intraday low of 171. The net turnover during the day was Rs. 184905.
Source: Equity Bulls
