Shares of KPI Green Energy soar on receiving new orders for executing solar power projects

KPI Green Energy has received new orders aggregating to 12.10 MW for executing solar power projects, out of which 3.10 MW capacity undertaken by KPI Green Energy and 9 MW capacity by Sun Drops Energia, a wholly owned subsidiary of the Company under ‘Captive Power Producer (CPP)’ Segment of the Company. The projects are scheduled to be completed in the financial year 2023-24, in various tranches as per the terms of the order.

In September, the company successfully commissioned a 7.80 MW wind-solar hybrid power project comprising 4.20 MW wind energy facilitated by KPI Green and 3.60 MWdc of solar capacity provided by its wholly owned subsidiary, KPIG Energia Private Limited. This project has been executed for M/s. Mono Steel India Limited in Surat under the CPP division of the company, in compliance with the Gujarat Wind-Solar Hybrid Power Policy 2018.

In August, the company received commissioning certificates from the Gujarat Energy Development Agency (GEDA) for a 4.10-MW wind-solar hybrid power project at Bharuch in Gujarat. The power project comprises 2.10 MW wind and 2 MWdc solar capacity, from the company’s own power-generating asset portfolio.

Also, the company entered into a contract with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), a subsidiary of Mahatma Phule Backward Class Development Corporation (MPBCDC), a Maharashtra government undertaking.

KPI Green Energy (formerly known as K.P.I. Global Infrastructure) is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as a service provider to Captive Power Producer (CPP) customers.

KPI Green Energy is currently trading at Rs 910, up by 25.85 points or 2.92% from its previous closing of Rs 884.15 on the BSE. The scrip opened at Rs 895.05 and touched a high and low of Rs 918.90 and Rs 895.05 respectively. So far 4431 shares were traded on the counter.

The BSE group ‘A’ stock of face value of Rs 10 has touched a 52-week high of Rs 953.80 and a 52-week low of Rs 345.00. Last one week high and low of the scrip stood at Rs 918.90 and Rs 826.75 respectively. The current market cap of the company is Rs 3194.79 crore. The promoters holding in the company stood at 54.81%, while Institutions and Non-Institutions held 3.54% and 41.65% respectively.

The projects are scheduled to be completed in the financial year 2023-24.

Disclaimer: This post 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.