KPI Green Energy shares saw a notable 3% increase in morning trade after securing a major project from Coal India. The company, a significant player in India’s renewable energy sector, has been awarded a 300 MWAC (405 MWDC) ground-mounted Solar PV project. This project, valued at Rs. 13.11 billion, represents the largest-ever order received by KPI Green Energy from a central public sector undertaking (PSU).
The project will be developed at the GIPCL Solar Park in Khavda, Gujarat, and KPI Green Energy will handle the entire EPC (Engineering, Procurement, and Construction) execution. The company will also provide five years of Operation & Maintenance (O&M) services, further expanding its footprint in India’s clean energy market. As of September 2024, KPI Green Energy has successfully completed over 507 MW of renewable energy projects.
The Coal India project is strategically located near the company’s ongoing 240 MWDC IPP project for Gujarat Urja Vikas Nigam Limited (GUVNL), reinforcing KPI Green Energy’s position in the industry.
The stock’s recent performance shows an open price of Rs. 807.90, with a high of Rs. 809.00 and a low of Rs. 795.10. It is currently trading well below its 52-week high of Rs. 1,118.00.
As of 9:36 am, KPI Green Energy shares were trading 3.38% higher at Rs 805.35 on the NSE.
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