M/s. Sun Drops Energia Private Limited, a subsidiary of KPI Green Energy Limited, has received Letters of Award/Intent for the development of solar power projects with a combined capacity of 32.15 MW. This initiative falls under the Captive Power Producer (CPP) business segment, reflecting the growing demand for renewable energy solutions in India.
Awards from Domestic Entities
The projects have been awarded by several domestic companies, including:
- M/s Aditya Ultra Steel Pvt. Ltd.
- M/s Suraj Dyeing & Printing Ltd.
- M/s Sunita Processors Pvt. Ltd.
- M/s Balaji Polyester Pvt. Ltd.
- M/s Citizen Metalalloys Ltd.
Project Timeline and Development
Sun Drops Energia is set to develop these projects in accordance with the terms outlined in the order. The projects are expected to be completed in the financial year 2025-26, with work being carried out in various stages. The total capacity of 32.15 MW marks a significant step in the company’s expansion within the renewable energy sector.
Compliance and Transparency
The orders are entirely domestic, with no involvement from international entities. The company has confirmed that there is no interest from promoters, promoter groups, or group companies in the entities awarding these contracts. Additionally, the contracts do not qualify as related party transactions, ensuring transparency and adherence to arm’s length principles.
Conclusion
The receipt of these Letters of Award/Intent is a positive development for M/s. Sun Drops Energia as they continue to grow their renewable energy portfolio. This achievement contributes to India’s commitment to expanding its renewable energy capacity.
Sources
- KPI Green Energy Limited
- Ministry of New and Renewable Energy, Government of India
- Indian Solar Energy Industry Association
