KPI Green Energy

KPI Green Energy Signs 50 MW Solar-Wind Hybrid Project Agreement with Gujarat Urja Vikas Nigam

KPI Green Energy has signed a power purchase agreement with Gujarat Urja Vikas Nigam Ltd. for a 50-megawatt solar-wind hybrid power project.

Founded in 2008, KPI Green Energy Ltd. is a key player in the renewable energy sector and part of the KP Group. The company specializes in developing, building, owning, managing, and maintaining solar and solar-wind hybrid power facilities. Operating as both an Independent Power Producer (IPP) and a service provider to Captive Power Producers (CPPs) under the ‘Solarism’ brand, KPI Green Energy has carved a niche in the industry. The KP Group includes KP Energy Limited, KP Green Engineering Private Limited, KPF Green Hydrogen & Ammonia Technology Private Limited, and the KP Human Development Foundation.

KPI Green Energy signs 50 MW Solar-Wind Project

KPI Green Energy Ltd. has entered into a power purchase agreement with Gujarat Urja Vikas Nigam Ltd. for a 50-megawatt solar-wind hybrid power project. This project, detailed in a recent exchange filing, will consist of 50 megawatts of solar power and 16.80 megawatts of wind energy. The contract was secured through a competitive bidding process organized by Gujarat Urja Vikas Nigam. “This achievement bolsters and accelerates our efforts to achieve our ambitious goal of 1000 MWp capacity by 2025,” the company stated in the regulatory filing. This agreement marks a significant milestone in KPI Green Energy’s growth strategy.

Recent fundraise approval by KPI Green Energy Board

In May, KPI Green Energy Ltd.'s board approved a proposal to raise up to Rs 1,000 crore through the issuance of shares via qualified institutional placement(QIP)

Conclusion: The agreement between KPI Green Energy Ltd. and Gujarat Urja Vikas Nigam Ltd. for a 50-megawatt solar-wind hybrid power project represents a significant advancement for both companies. The project leverages diverse renewable resources by combining 50 megawatts of solar power with 16.80 megawatts of wind energy. Secured through competitive bidding, this contract highlights KPI Green Energy’s capability and commitment to expanding its renewable energy footprint. The initiative also aligns with their broader objective of achieving 1000 MWp capacity by 2025, underscoring their strategic vision and operational prowess in the renewable energy sector. The stock of KPI Green Energy currently trades at Rs.1,847.25 a piece up by 3.5% from its previous day’s closing price.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.