K P Energy and Suzlon in an agreement for handover of 50.4MW wind power project and other pending issues

The agreed milestone payments have been started to realize from Suzlon in accordance with the Agreement.

Jun 04, 2021 01:06 IST India Infoline News Service

K P Energy Limited has entered into an Agreement with Suzlon Energy Limited for settlement of final accounts and resolution of the pending issues and completion of the handover of the 50.4MW wind power project which has been commissioned and in generation since March 2019 at Mahuva Site in Bhavnagar, Gujarat.

It is pertinent to mention that KP Energy has restarted its punch-point completion activities and hand over of the Project in accordance with the amicable meetings between the Stakeholders of the Project and the Agreement between Suzlon and KP Energy.

The agreed milestone payments have been started to realise from Suzlon in accordance with the Agreement.

At  around 1:35 PM, K P Energy was trading at Rs62.55 per piece higher by Rs0.15 or 0.24% while Suzlon Energy was up by 5.97% at Rs7.46 per piece on Sensex.

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