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Sun Drops Energia Private Limited, a subsidiary of KPI Green Energy Limited, has received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of Standalone Battery Energy Storage System (BESS) Projects. The projects have an aggregate capacity of 445 MW / 890 MWh and will be established at multiple locations within Gujarat. This LOI was issued following a tariff-based competitive bidding process for Standalone BESS Projects under Phase-VII, supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF).

This development marks a significant strategic milestone for the Group, representing its maiden utility-scale IPP BESS project and its first BESS project awarded by a major government body. It signifies the Group's expansion into the BESS segment, adding a new strategic asset class to its existing portfolio of solar, wind, and hybrid power projects. Standalone BESS projects are crucial for grid reliability, peak power management, and renewable energy integration.

The award underscores the Company's expanding capabilities in emerging clean energy segments and its growing ability to participate in large-scale, policy-backed infrastructure projects within the evolving clean energy ecosystem. The specific terms include development of BESS Projects under tariff-based competitive bidding with VGF, subject to the execution of BESPA and regulatory approvals.