KPI Green Energy signs power purchase agreements for its hybrid power project ; stock slips ~2%

14 Sep 2022 , 02:56 PM

KPI Green Energy Limited informed that it has signed new long-term Power Purchase Agreements (PPAs) from its 15.88 MW Wind-Solar Hybrid power project under the Independent Power Producer (IPP) Business Segment of the company.

They will get power from the company’s forthcoming Wind-Solar Hybrid power project of 16.10 MW (comprising 16.10 MW wind and 10 MWd solar capacity) at the Bhungar site, Mahuva, in the Bhavnagar District of Gujarat, as part of the Gujarat Hybrid Power Policy.

The company has agreed to sell a 1.80 MW capacity to J. Korin Spinning Pvt. Ltd., a 2.70 MW capacity to J S Ecotex Ltd., and a 2.25 MW capacity to Oriilon India Pvt. Ltd.

Further, the highest capacity will be sold to Jay Bharat Metcast Pvt. Ltd. of 5 MW. Kiri Industries to get 2.93 MW capacity, while Cheminova India Ltd. wil be getting 1.20 MW capacity.

At around 3.00 PM, KPI Green Energy was trading 1.77% lower at Rs883.60, against previous close of Rs898.90 on NSE. So far, it hit intraday high and low of Rs899 and Rs802.20 respectively.

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