KPI Green Energy gains after securing Rs 489-cr floating solar project from GSECL

KPI Green Energy rose 2.55% to Rs 434.20 after the company announced that it has received a work order worth Rs 489.17 crore from Gujarat State Electricity Corporation (GSECL) for a floating solar photovoltaic (FSPV) project in Gujarat.

According to an exchange filing, the project will be executed on a full turnkey basis, covering design, engineering, procurement, construction and installation of the floating solar system. The scope also includes grid-connection infrastructure such as a 33 kV underground transmission line to the pooling station and 33/220 kV bays at the Kadana substation.

The project has an aggregate capacity of 142 MW (DC) / 110 MW (AC) and carries a total contract value of Rs 489.17 crore. It is scheduled for completion within 18 months and includes a comprehensive 10-year operation and maintenance (O&M) contract.

The company further stated that neither its promoters nor the promoter group have any interest in the awarding authority, and the transaction does not fall under related-party transaction norms.

KPI Green Energy develops, builds, owns, operates, and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name of 'Solarism.'

The company reported a 56% increase in consolidated net profit to Rs 109.11 crore on a 76.4% jump in revenue from operations to Rs 634.30 crore in Q2 FY26 over Q2 FY25.

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