New Delhi, KPI Green Energy on Friday said it has signed an agreement with Gujarat Energy Development Corporation to supply power from a 50 MW solar-wind hybrid project.

According to a filing, the project comprising 50 MW of solar and 16.80 MW of wind power was awarded through a competitive bidding process on November 1, 2023 and secured through a reverse e-auction on January 22, 2024.

KPI Green Energy Limited has successfully signed a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 50MW solar-wind hybrid power project.

It said this achievement boosts and accelerates the company's efforts to reach the target of 1,000 MW capacity by 2025.