KPI Green Energy Ltd

K.P.I. Global Infrastructure Limited was incorporated on February 01, 2008 in Mumbai. The Company obtained Certificate of Commencement of Business on August 22, 2008. The Company is a solar power generating Company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of Solarism and as service provider to Captive Power Producer (CPP) customers. The Company build, own, operate and maintain grid connected solar power projects as IPP and generate revenue by entering into Power Purchase Agreements (PPA) with third parties for selling power units generated through their solar projects. The Company also develop, transfer, operate and maintain grid connected solar power projects for CPP customers and generate revenue by selling these projects to CPP customers for their captive use requirements. Both these businesses, IPP and CPP, are currently carried out at plant located at Sudi Tanchha village, Amod, Bharuch, Gujarat (Solarism Plant). The Company has also established a 13.25 km long 66 KV transmission line from their Solarism Plant to the Gujarat Energy Transmission Corporation Limited (GETCO) substation located at Amod, Bharuch, Gujarat (Amod Substation), for evacuation of the solar power generated at their Solarism Plant.In the initial years, The Company was engaged in the sale of land parcels to third parties, which were leased back for foraying into solar power generation. In 2013, the company received a feasibility study from GETCO for evacuation of the solar power, proposed to be generated at their Solarism Plant, to Amod Substation. In 2014, the company initiated construction of a 13.25 km long 66 KV transmission line for power evacuation from their Solarism Plant to Amod Substation. In 2016, the company commissioned its first solar power plant for 5 MW on the leased land at Solarism Plant and in 2017, the company installed another solar power plant for 10 MW on their owned land at Solarism Plant. Till September 30, 2018, the company completed CPP sales of 1.90 MW of solar power plant for their CPP clients.The Company is going to increase its solar power generation capacity by setting up another solar power project for 25 MW at Sudi, Samiyala Tanchha village, Amod, Bharuch, Gujarat. The estimated cost of this project would be Rs. 13,203.76 Lakh and the proposed date of commercial commencement is July 2019. The Company has entered into either PPAs with customers for the proposed sale of power of 25 MW. Post the commercial commencement, the total solar power generation capacity would increase to 40 MW. The Company has entered into bilateral PPAs for a period of 3 years with reputed industrial consumers such as Mafatlal Industries Limited (for their two units located at Navsari and one unit located at Nadiad), Best Paper Mills Private Limited (for their two units located at Vapi) and Meghmani Organics Limited (for their three units located at Dahej, Ankleshwar and Panoli) for direct sale of the solar power generated at their Solarism Plant. The rate of its PPAs are currently at around Rs. 6.58 per unit, which have been priced to arrive at an average of around 7% discount to the prevailing per unit price of the power rates of the DISCOMs, less other adjustments.The Company is promoted by Mr. Faruk G. Patel, having more than 18 years of experience in diversified sectors including solar and wind energy space. The COO, Mr. Shaheedul Hasan, has a bachelors degree in Engineering in Electronics from Aligarh Muslim University and has more than 28 years of experience, across the lifecycle of a telecom network and solar power plant. Both of them have completed a solar workshop organized by GERMI. The Company has received Excellence In Solar Park Award 2016 from Mission Energy Foundation, Mumbai. The Promoter, has received Legends of Surat 2018 award from Gujarat Mitra, a leading newspaper in Gujarat.