KPI Green Energy Limited, through its subsidiary Sun Drops Energia Private Limited, announced the receipt of Letters of Award/Intent for developing solar power projects with a total capacity of 32.15 MW under its Captive Power Producer (CPP) business segment.
The projects were awarded by multiple domestic entities, including:
These projects are scheduled for phased execution in FY 2025-26.
This move aligns with KPI Green’s strategy of expanding its renewable energy footprint and catering to industrial energy demands. While the order size aggregates to 32.15 MW, no related party transactions were involved.
Despite the positive development, KPI Green’s share price exhibited high volatility on January 3, 2025. The stock surged to an intraday high of ₹588.80, only to slide 3% to ₹553.80 by 11:58 AM.
KPI Green Energy Limited (KPIGEL, previously known as K.P.I. Global Infrastructure Ltd.), incorporated on February 01, 2008, is engaged in solar power generation. It provides solar power to CPP customers both as an independent power producer (IPP) and as a service provider (EPC contractor). The current operational IPP capacity of the company under the third-party open access route is 110 MW, including the recently developed hybrid capacity of 36.2 MW in the Bhavnagar and Bharuch districts of Gujarat. Also, there are installed IPP capacities of 25 MW and 21 MW under the subsidiaries, KPIGEPL and SDEPL, respectively. These plants are also located in Bharuch, Gujarat. At a Group level, the current installed IPP capacity stands at 156 MW; also, the Group had commissioned CPP projects of more than 287MW as of June 2024. At present, KPI Green has an under-development capacity of 1.2 GW, including the recently awarded utility-scale projects.
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Published on: Jan 3, 2025, 3:27 PM IST
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