KPI Green Energy Share Price in Focus on Securing ₹489.17 Crore Order for Floating Solar Project

KPI Green Energy has been awarded a ₹489.17 crore work order from Gujarat State Electricity Corporation Ltd (GSECL) for a floating solar project at the Kadana Dam reservoir in Mahisagar district.  

The project will have a total capacity of 142 MW (DC) / 110 MW (AC), according to the exchange filing. 

Scope of Work 

The order includes complete EPC responsibility. This covers the design of the floating system, supply of material, engineering work, and construction at the reservoir site. The project also requires building supporting electrical infrastructure.  

A 33 kV underground transmission line will connect the plant to the pooling station, and 33/220 kV bays will be created at the Kadana substation as part of the job. 

First Floating Solar Project  

This is the 1st time KPI Green Energy will work on a floating solar installation. The company has mainly undertaken ground-mounted and rooftop solar projects so far.  

Floating plants allow solar panels to be set up on water bodies, which helps add capacity in areas where land is limited or already in use for other purposes. 

Timeline and Responsibilities 

The filing states that the project must be completed within 18 months from the date of the order. Once the plant is commissioned, KPI Green Energy will manage operations and maintenance for 10 years.  

The order has been placed by a domestic state utility and has no related-party involvement. 

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KPI Green Energy Share Price Performance 

As of December 03, 2025, 9:45 am, KPI Green Energy share price was trading at ₹425.55, a 1.01% decrease from the previous closing price. 

Conclusion 

The Kadana Dam contract gives KPI Green Energy a defined EPC assignment with long-term maintenance duties and places the company in the floating solar segment for the 1st time. 

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