KPI Green Energy Bags 32.15 MW Solar Project Orders, Share Price Sees Volatility

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.

Project Partners and Execution Timeline

The projects were awarded by multiple domestic entities, including:

• Aditya Ultra Steel Pvt. Ltd.
• Suraj Dyeing & Printing Ltd.
• Sunita Processors Pvt. Ltd.
• Balaji Polyester Pvt. Ltd.
• Citizen Metalalloys Ltd.

These projects are scheduled for phased execution in FY 2025-26.

Financial and Strategic Impact

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.

Share Price Performance

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.

About KPI Green Energy

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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