KP Energy gains 3% on commissioning of wind-power project in Gujarat

KP Energy commissioned a 10.5 MW (Phase-V) of ISTS-connected wind power project at Sidhpur in Gujarat’s Devbhoomi Dwarka district

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KP Energy traded 3 percent higher on the September 28 morning, a day after the energy company announced the commissioning of Phase -V of its Inter-State Transmission System-connected (ISTS) wind power plant.

According to a regulatory filing, KP Energy successfully commissioned a further 10.5 MW (Phase-V) ISTS-connected wind power project comprising five wind turbine generators of 2.1 MW each at Sidhpur in Gujarat’s Devbhoomi Dwarka district.

It is a part of the 250.8MW ISTS-connected wind-power project capacity awarded to Apraava Energy by Solar Energy Corporation of India (SECI).

KP Energy is developing the project for Apraava Energy as a contractor.

Also read: Power On Fire: What’s fuelling the rally in energy stocks?

KP Energy is a wind energy-focused company based in Gujarat. For the quarter ending June 2023, it reported standalone net sales of Rs 111.75 crore, down 9.78 percent from June 2022.

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Net Profit grew 52.4 percent to Rs 15.04 crore. Earnings before interest, taxes, depreciation and amortisation also grew 22.91 percent year-on-year to Rs 20.71 crore.

At 12.10 am, the stock was trading at Rs 521.65, 1.84 percent higher from the previous close.

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