KPI Green Energy shares up 2% on bagging 12.10 MW solar power projects

The projects are scheduled to be completed in the financial year 2023-24, in various tranches as per the terms of the order.

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KPI Green Energy share price rose 2 percent in early trade on October 5 after the company received new orders for executing solar power projects. At 09:18 hrs KPI Green Energy was quoting at Rs 907.85, up Rs 23.70, or 2.68 percent, on the BSE. The company has received orders aggregating to 12.10 MW for executing solar power projects, out of which 3.10 MW capacity will be undertaken by KPI Green Energy and 9 MW capacity by its wholly owned subsidiary, M/s. Sun Drops Energia Private Limited, under the Captive Power Producer (CPP) Segment.

The projects are scheduled to be completed in the financial year 2023-24, in various tranches as per the terms of the order.

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In September, the company had successfully commissioned a 7.80 MW wind-solar hybrid power project comprising 4.20 MW wind energy facilitated by KPI Green and 3.60 MWdc of solar capacity provided by its wholly owned subsidiary, KPIG Energia Private Limited.

This project has been executed for M/s. Mono Steel India Limited in Surat under the CPP division of the company, in compliance with the Gujarat Wind-Solar Hybrid Power Policy 2018.

In August, the company had 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 2.10 MW wind and 2 MWdc solar capacity, from the company’s own power generating asset portfolio.

Also, the company entered into a contract with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), a subsidiary of Mahatma Phule Backward Class Development Corporation (MPBCDC), a Maharashtra government undertaking.

Under this agreement, KPI Green Energy has been appointed as a knowledge partner to MAHAPREIT, offering assistance in overcoming initial challenges by designing and formulating a comprehensive blueprint for project-specific strategic planning. The company will provide dedicated support in operational and control management aspects throughout the entire project lifecycle.