KP Energy hits record high after receiving LoI aggregating Rs119.73cr for wind power projects from retail customers

The orders will be executed within the current financial year. In view of showel readiness, the company is confident of completing execution ahead of schedule.

Sep 21, 2021 09:09 IST India Infoline News Service

KP Energy Limited has received a Letter of Intent (LOI) aggregating Rs119.73cr from captive customers in Gujarat for executing a wind power projects under the wind power policy 2016 which is getting expired on March 31, 2022. The orders will be executed within the current financial year. In view of showel readiness, the company is confident of completing execution ahead of schedule.

The company said it has an operational site of 70MW at Mahuva - I, in Bhavnagar, Gujarat. It had spare capacity available for utilization of Power Evacuation Infrastructure.

“This is first instance where company has offered EPCC services of Project with supply of turbine to customers,” the company said in a filing on Monday.

Ata round 9.30 AM, K.P. Energy Ltd was trading at Rs106.15 per piece up by Rs4.4 or 4.32% from its previous closing of Rs101.75 per piece on the BSE. The scrip opened at Rs106.70 and has touched a fresh 52-week high of Rs112 per piece on the BSE. 

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