KPI Green Energy zooms 7% to hit 52-week high

The company got commissioning certificates from the Gujarat Energy Development Agency for a 7.20 MW wind-solar hybrid power project, the second such nod in a many days

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KPI Green Energy hit its 52-week high of Rs 575.35, rising 7.10 percent, in the morning trade on June 9 after it received commissioning certificates from the Gujarat Energy Development Agency (GEDA) for one of its projects.

“We have received Commissioning Certificates from Gujarat Energy Development Agency (GEDA) for a 7.20 MW wind-solar hybrid power project comprising 4.20MW wind and 3MW dc solar capacity for our client Nouveau Jewellery LLP, Surat under ‘Captive Power Producer (CPP)’ business segment of the Company,” KPI Green said in a regulatory filing.

As of 1.20 pm, the stock was up 4.83 percent at Rs 563.15 on BSE. The counter has risen 25 percent this year and zoomed 101 percent the past year, turning into a multibagger.

The approval is the second such nod from GEDA in the last two days. The company on June 8 reported that it received commissioning certificates from GEDA for its 26.10 MW wind-solar hybrid power project comprising 16.10MW wind and 10MWdc solar capacity in Bhavnagar, Gujarat.

On June 7, KPI Green received the largest single LOI (letter of intent) for executing a wind-solar hybrid power oroject of 40 MW (21.50 MW wind and 18.50 MW solar) capacity from Anupam Rasayan, Surat under ‘captive power producer (CPP) business segment of the company.

“This largest single LOI for the 40 MW wind-solar hybrid power project is a significant milestone for our company, showcasing our strong position in the renewable energy market,” it said. “This achievement further strengthens our position in the industry and reinforces our commitment to driving the transition towards clean and renewable energy sources.”