KPI Green Energy secures 66 MW hybrid power project order

26 Sep 2024 , 11:35 AM

KPI Green Energy Ltd announced on Thursday, September 26, that it had obtained a letter of award (LoA) to develop a 66.20 megawatt (MW) hybrid power project in the captive power producer (CPP) category.

The organisation received the order from Sai Bandhan Infinium Pvt Ltd. According to the agreement, the project will be finished in stages by July 2025.

KPI Green Energy Ltd. shares opened higher at ₹909 on the BSE. On Thursday, September 26, the stock reached an intra-day high at this price point. The stock fell nearly 4.4% to an intraday low of ₹861 per share on the BSE, failing to maintain its early gains.

Earlier this month, KPI Green Energy received approval from the Chief Electrical Inspector (CEIG) to create a 12.72 MW wind-solar hybrid power project. This project will also be developed inside the company’s CPP business sector.

It has gained CEIG approval for the development of 16 MW of solar power projects through its CPP business segment.

The company raised ₹1,000 crore through a Qualified Institutions Placement (QIP) at a price of ₹935 per equity share, plus a premium of ₹930.

The company’s paid-up capital increased to ₹65.63 crore, which includes 13,12,60,403 equity shares with a face value of ₹5 apiece. 

At around 11.32 AM, KPI Green Energy was trading 2.29% lower at ₹877.40, against the previous close of ₹898 on NSE.

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