KPI Green Energy surges ~5% on bagging Maharashtra power project – EQ

In Short : KPI Green Energy experiences a surge of approximately 5% following the acquisition of a significant power project in Maharashtra. This development underscores the company’s expansion efforts and reinforces its position in the renewable energy sector.

In Detail : KPI Green Energy Limited’s shares rose 5% to ₹1,522 in early session on March 18 after the business won the Maharashtra State Power Generation procurement for the building of a 100MWAC solar power plant.

KPI Green has participated in the EPC package that included land for the development of a 600 MW solar project in several places across Maharashtra. It obtained an order for a 100-megawatt project.

The business has received this second similar order in rapid succession. Last week, the business was awarded a wind-solar power project from Gujarat Urja Vikas Nigam Limited (GUVNL) to create a wind-solar hybrid project. This tender was for the development of 500 MW of hybrid renewable power facilities, with an additional 500 MW greenshoe option available.

On March 8, the business obtained an order for 305MWac, of which 175MWac was given by Aditya Birla Renewables Subsidiary Limited and 130MWac by ABREL (RJ) Projects Limited, for the development of a Balance of System as part of a wind-solar hybrid power project in Gujarat.

“We are thrilled to report that this tender win represents a crucial event in our drive to extend our business beyond Gujarat. It demonstrates our desire to play a vital role in expanding renewable energy solutions over a larger geographical area. This tender award is consistent with our strategic goal and ambitious aim of attaining 1000 MW by 2025,” KPI Green stated.

At around 11.01 AM, KPI Green was trading 5% higher at ₹1,525.35 per piece, against the previous close of ₹1,452.75 on NSE.