KP Energy Secures Over 1 GW of Wind-Solar Hybrid Orders from KPI Green

6 Nov 2024 , 12:15 AM

KP Energy shares surged to a record high of ₹636.40 during intraday trading on November 5. The stock’s rise follows the announcement that KP Energy secured over 1 GW of orders for wind-solar hybrid and solar projects from KPI Green Energy Limited.

At the time of closing on November 5, 2024 shares of KP Energy closed at ₹634.65 which is a 4.71% gain than the previous close. 

In an official exchange filing, KP Energy confirmed it has received new orders totaling 1003.7 MW for renewable energy projects. The project will be executed in phases, with capacities of 86.8 MW, 641.9 MW, and 275 MW allocated to Phases I, II, and III, respectively.

KP Energy will oversee Engineering, Procurement, Construction, and Commissioning (EPCC) tasks, which encompass design, supply, construction, testing, and obtaining necessary approvals. As a prominent player in India’s renewable energy sector, KP Energy Limited (KPEL) specializes in turnkey wind and solar project solutions.

The company operates extensively in Gujarat, with significant projects including a 300 MW facility in Kutch, a 250.8 MW site in Dwarka, and a 10.5 MW plant in Devbhumi Dwarka. Originally part of the KP Group, a logistics firm established in 1994, KPEL went public in 2015 and is headquartered in Surat.