K.P. Energy hits life high on securing order from KPI Green Energy

K.P. Energy gained 4.74% to Rs 634.80 after it received new EPC orders aggregating to 1,003.7 MW from KPI Green Energy for the development of renewable energy projects.

The order comprises a range of services, including engineering, procurement, construction, and commissioning (EPCC) for the project. This entails activities such as designing, supply, construction, erection, testing, commissioning and securing the necessary approvals and permits for the project.

The projects include an 86.8 MW hybrid project (70 MW solar, 16.8 MW wind), a 641.9 MW hybrid project (518 MW solar, 123.9 MW wind), and a 275 MW solar project. These projects are won by KPI Green Energy through various tenders issued by Gujarat Urja Vikas Nigam (GUVNL).

These projects are expected to be completed as per the timelines outlined in the definitive agreements.

KPI Green Energy develops and maintains grid connected solar power projects and sells power units generated from the company's solar plants. KPI Green Energy is a K.P. Energy group company and Dr. Faruk G. Patel, promotor and MD of K.P. Energy is also promotor and CMD of KPI Green Energy.

K.P. Energy is primarily engaged in development of Balance of Plant of wind power projects and allied services related to it along with generation of electricity through its own wind power generating assets and operation and maintenance services of BoP of wind power projects primarily in India.

The companys consolidated net profit grew 19.5% to Rs 18.21 crore on 12.6% rise in net sales to Rs 127.18 crore in Q1 FY25 over Q1 FY24.

The counter hit an all time high of Rs 636.40 in todays intraday session.

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