KP Energy shares jumped more than 3% on the National Stock Exchange (NSE) today after the company got approval from the Gujarat Electricity Regulatory Commission (GERC) for the Power Purchase Agreement (‘PPA’) signed between the Company and Gujarat Urja Vikas Nigam Limited.
The company will set up the 30MW wind power project through its IPP segment and sell the energy to GUVNL under the terms of the PPA. This project is anticipated to be completed in Q4 FY25.
This order is an important milestone for the firm because it will enhance its current IPP capacity by about 50 MW.
As of 1:47 pm, KP Energy shares were trading 3.20% higher at Rs 451.90 on the NSE.
