KPI Green shares rise nearly 3% on bagging 40 MW wind-solar hybrid power project

The share touched a 52-week high of Rs 556.50 and a 52-week low of Rs 223.93 on May 18, 2023 and June 7, 2022, respectively.

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KPI Green Energy share price rise nearly 3 percent intraday on June 7 as company received a new largest single LoI from Anupam Rasayan India. KPI Green Energy‘s new project is for executing wind-solar hybrid power project of 40 MW (comprising of 21.50 MW Wind and 18.50 MW Solar) capacity from M/s Anupam Rasayan India Ltd., Surat under ‘Captive Power Producer (CPP)’ business segment of the company.

“This largest single LoI is a significant milestone for our company, showcasing our strong position in the renewable energy market,” the company said in a statement.

The magnitude of this LoI demonstrates the trust and confidence placed in our company’s capabilities, technical expertise, and commitment to delivering high-quality sustainable energy solutions. This achievement further strengthens our position in the industry and reinforces our commitment to driving the transition towards clean and renewable energy sources, the company added.

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The financials

The project is scheduled to be completed in the financial year 2023-24, in various tranches.

At 11:46 hrs KPI Green Energy was quoting at Rs 543.25, up Rs 14.00, or 2.65 percent on the BSE.

The share touched a 52-week high of Rs 556.50 and a 52-week low of Rs 223.93 on 18 May, 2023 and 07 June, 2022, respectively.

Currently, it is trading 2.38 percent below its 52-week high and 142.6 percent above its 52-week low.