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KPI Green Energy secures new orders for 74 MW solar power projects
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
KPI Green Energy Share Price | Among the allocated capacity, KPI Green Energy Limited, a subsidiary of KPI Green, is set to undertake 27 MW, including a 20 MW capacity dedicated to the development of a solar power project within a wind-solar hybrid power project, the company said in a stock exchange filing.
Shares of leading solar power solutions provider KPI Green Energy dropped 5% to hit lower circuit on Tuesday, April 30, even as the company announced it had secured new orders for solar power projects aggregating to 74.3 MW.
Among the allocated capacity, KPI Green Energy Limited, a subsidiary of KPI Green, is set to undertake 27 MW, including a 20 MW capacity dedicated to the development of a solar power project within a wind-solar hybrid power project, the company said in a stock exchange filing.
This marks a significant stride for the company in bolstering its presence in the renewable energy landscape, KPI Green Energy said in the stock exchange filing.
Additionally, subsidiaries of KPI Green, KPark Sunbeat Private Limited and Sun Drops Energia Private Limited will spearhead projects of 30 MW and 17.3 MW capacity, respectively, under the ‘Captive Power Producer (CPP)’ segment.
The orders have been awarded by various domestic entities, signifying a robust demand for renewable energy solutions within the country.
The contracts for the new solar projects have been awarded by Micro Life Sciences Private Ltd, Ameen Silk Mills Private Ltd, Riti Textiles, and several others, KPI Green Energy informed the bourses.
Under the terms of the contracts, the designated entities, including KPI Green and its subsidiaries, are mandated to develop the projects within the stipulated time frame.
The projects are slated for completion in the financial year 2024-25, with various milestones to be achieved in tranches.
The aggregate order size of 74.3 MW underscores the substantial contribution these projects will make towards augmenting the renewable energy capacity of the nation
With a commitment to sustainability and innovation, KPI Green aims to deliver solar power solutions that align with the evolving needs of its clientele.
This announcement reaffirms KPI Green’s position as a frontrunner in the renewable energy domain, poised to drive sustainable growth and contribute significantly to India’s clean energy transition.
Shares of KPI Green Energy slumped 5% to hit the lower circuit at ₹1,808.5 on the BSE.
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