KPI Green Energy receives commissioning certificates from GEDA; shares hit 52-week high

The company has received commissioning certificates from Gujarat Energy Development Agency (GEDA) for s 4.10-MW wind-solar hybrid power project at Bharuch in Gujarat.

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KPI Green Energy share price rose 6 percent to touch its 52-week high of Rs 925 in the early trade on August 25 after the company received commissioning certificates for its wind-solar hybrid project.

The company has received commissioning certificates from the Gujarat Energy Development Agency (GEDA) for a 4.10-MW wind-solar hybrid power project at Bharuch in Gujarat.

The power project comprises 2.10MW wind and 2MWdc solar capacity, from the company’s own power generating asset portfolio.

“We have received commissioning certificates from Gujarat Energy Development Agency (‘GEDA’) for our 4.10MW wind-solar hybrid power project comprising 2.10MW wind and 2MWdc solar capacity, being our own power generating asset portfolio, at Samoj site in Jambusar, Dist. Bharuch, Gujarat, under the Gujarat Wind-Solar Hybrid Power policy 2018,” company said in its statement.

The company has made necessary arrangements for selling the power generated out of this windsolar hybrid power project to the commercial and industrial (C&I) clients, it added.

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On August 16, the company had entered into a Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), a subsidiary of Mahatma Phule Backward Class Development Corporation (MPBCDC), a government undertaking of Maharashtra. This collaboration establishes a significant strategic partnership aimed at the advancement of diverse projects, particularly those in the realm of renewable energy.

The company had posted a 50 percent jump in its June quarter net profit at Rs 33.26 crore.