KPI Green Energy has received a work order from NACOF Oorja, a subsidiary of NACOF, for the turnkey Engineering, Procurement and Construction (EPC) of a 500 MW / 550 MWp solar photovoltaic (PV) power project in Rajasthan. The contract is valued at approximately Rs. 20.25 bn, including taxes and GST.

The project forms part of a 5,000 MW Solar Photovoltaic Power Park being developed by NACOF Oorja at Village Dantoor, Tehsil Khajuwala, in Bikaner district. The order has been awarded by a domestic entity and covers the aggregate 500 MW / 550 MWp AC project size. KPI Green Energy said the contract does not involve a related-party transaction.

Under the work order, KPI Green Energy will handle the complete design, engineering, procurement, supply, installation, testing and commissioning of the plant. The scope includes civil works, PV modules, module mounting structures, inverters, inverter transformers, high-tension switchgear and associated electrical systems.

The contract also includes construction of the 33 kV transmission line and evacuation bay, as well as Supervisory Control and Data Acquisition (SCADA) and monitoring systems. The EPC works are scheduled to be completed within 12 months from the handover of the project site, extending through commissioning.

The company said the order follows a 500 MW / 550 MWp solar balance of system package awarded by NTPC Renewable Energy at Bikaner earlier this year. It said the latest contract would strengthen its EPC order book and provide revenue visibility over the coming year. KPI Green Energy added that its promoter, promoter group and group companies have no interest in NACOF Oorja. Shares of the company ended at Rs. 373.70 on the BSE on September 29, down Rs. 17.15, or 4.81 per cent.