KPI Green Energy secures a ₹489.17 crore EPC contract from GSECL for a 142 MW (DC) / 110 MW (AC) floating solar plant at Kadana Dam, Gujarat. The deal covers full EPC, grid connection infrastructure, and a 10-year O&M contract, with completion scheduled in 18 months.
Source: KPI Green Energy Press Release (NSE Exchange Fillings) | Published on Dec 02, 2025
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As quoted in the press release of KPI Green Energy (NSE Exchange Filings), the company received an EPC contract from Gujarat State Electricity Corporation Limited (GSECL), worth ₹489.17 crore to construct and install a Floating Solar Photovoltaic (FSPV) Plant on the Kadana Dam Reservoir located in Mahisagar, Gujarat. This floating solar installation's capacity will be 142MW (DC)/110MW (AC).
The EPC contract covers all stages of the project, starting from Conceptual Design through Engineering, Procurement, Construction and Commissioning of the floating solar energy system. In addition to these stages, the agreement also incorporates the construction of Grid Connection Infrastructure i.e. Construction of a 33kV underground cable from the Floating Solar pool station to Kadana Substation and the construction of 33/220kV bays at Kadana Substation. KPI Green Energy Ltd will also maintain the Floating Solar System for the next 10 years per this contract. The anticipated completion time for this Project is 18 months.
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The ordered installation will add 142 MW (DC) / 110 MW (AC) floating solar capacity under KPI Green’s portfolio.
The total firm contract value stands at ₹489.17 crore.
The scope includes full EPC responsibilities, grid connection work, and 10-year maintenance.
The floating solar project diversifies the company’s offerings beyond ground-mounted and rooftop solar segments.
The project timeline is 18 months from the award date.
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Specification | Detail |
Awarding entity | Gujarat State Electricity Corporation Limited (GSECL) |
Project location | Reservoir of Kadana Dam, Mahisagar district, Gujarat |
Capacity | 142 MW (DC) / 110 MW (AC) |
Contract value | ₹489.17 crore |
Scope | Full EPC + grid-connection infrastructure + 10-year O&M |
Transmission setup | 33 kV underground line to pooling station; 33/220 kV bays at site |
Completion timeline | 18 months from order award |
Winning this award solidifies KPI Green Energy's entry into the world of floating solar technology. Once again, KPI Green Energy has expanded their portfolio, now including floating solar systems along with the existing ground-mounted and rooftop solar installations. This contract's full design, implementation, and long-term maintenance scope demonstrates that KPI Green Energy is positioned to be a holistic EPC provider with expertise across all stages of development.
In addition, the magnitude and integration of this contract may have a direct impact on KPIs' perceived capacity for long-term development projects. As a result, KPI's overall credibility as a prominent renewable infrastructure provider is likely to be improved even further.
KPI Green Energy share price stands at ₹429.90 per share on the BSE as of 02 Dec 2025 at 15:30 PM IST, up by 1.33%.
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