In Short : K P Energy, a renewable energy company, has secured an order from Aditya Birla Renewables, marking a significant milestone in the renewable energy sector. This collaboration signifies the industry’s efforts to expand renewable energy capacity and promote sustainable practices. By partnering with Aditya Birla Renewables, K P Energy aims to contribute to India’s clean energy goals and enhance its renewable energy portfolio. This order highlights the growing momentum in the renewable energy sector and the industry’s commitment to a greener future.
In Detail : KP Energy share price gained over 4 percent in intra-day trade on Thursday after the renewable major bagged a new order from Aditya Birla Renewable Energy. KP Energy stock price opened at Rs 560 and hit the day’s high at Rs 600.25.
The order is for the development of a 23.1 MW wind capacity forming part of the wind-solar hybrid power project (comprising 23.1 MW wind & 11 MW Solar) to be connected to the existing 140 MW power evacuation facility at Fulsar PSS. The project includes the installation of 11 numbers of Suzlon make wind-operated electricity generators (commonly also referred to as windmills or WTG) each of model S120 having a rated capacity of 2100 kW.
KP Energy will be responsible for providing a range of services, including Engineering, Procurement, Construction, and Commissioning (EPCC) for the project. This entails tasks such as land acquisition, design, manufacturing, supply, construction, erection, testing, and commissioning for the Balance of Plant and securing the necessary approvals and permits for the Project.
KP Energy shall develop the projects in terms of the Definitive Agreements to be entered into between the Parties. The project is scheduled to be completed in the financial year 2024-25.
Last Month KP Energy was awarded a contract through the Notification of Award (NOA) for the development of a 464.10 MW Balance of System Package for an Inter-State Transmission System (ISTS) Connected Wind Energy Project to be developed in Gujarat.
The Gujarat contract was awarded by NTPC Renewable Energy Ltd (NTPC REL) through a competitive bidding process. This project falls under the Company’s ‘Captive Power Producer (CPP)’ business segment.
KP Energy shares have gained nearly 70% year-to-date.
