KPI Green Energy Skyrockets 2.23% with New Wind-Solar Project

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KPI Green Energy Soars 2.23% on Securing Wind-Solar Hybrid Power Project from Ayana Renewable Power

KPI Green Energy, a leading name in the renewable energy sector, has recently seen a significant rally of 2.23%, bringing its share price to Rs 831.50. This surge comes on the heels of the company receiving a letter of intent (LoI) from Ayana Renewable Power Four for a wind-solar hybrid power project.

A Glimpse into the Future: The Wind-Solar Hybrid Power Project

The order includes a 145.20 MW wind-solar hybrid power project, which comprises 145.20 MW wind and 50 MW solar. This project will be located in Gujarat, one of India’s most industrially advanced states. It falls under KPI Green Energy’s ‘captive power producer (CPP)’ business segment.

The Role of KPI Green Energy

KPI Green Energy will be responsible for providing a range of services, including engineering, procurement, construction, and commissioning (EPCC). This entails tasks such as land acquisition, design, manufacturing, supply, construction, erection, testing, and commissioning for the balance of plant. Additionally, the company will facilitate power evacuation facilities and secure the necessary approvals and permits for the project.

Project Timeline

The project is scheduled to be completed in the financial year 2024-25. This timeline indicates the company’s commitment to delivering high-quality renewable energy solutions in a timely manner.

About KPI Green Energy

Formerly known as K.P.I. Global Infrastructure, KPI Green Energy generates and sells solar power under the ‘Solarism’ brand name in India. It develops, builds, owns, operates, and maintains solar power plants as an independent power producer and captive power producer.

Financial Performance

The company’s consolidated net profit surged 49.6% to Rs 33.26 crore on a 54.8% jump in net sales to Rs 189.36 crore in Q1 FY24 over Q1 FY23. This impressive financial performance underscores the company’s robust business model and its potential for future growth.

Conclusion

The recent developments at KPI Green Energy highlight the company’s commitment to advancing renewable energy solutions in India. With its latest project in Gujarat, the company is poised to make significant contributions to India’s renewable energy sector. The rally in its share price is a testament to investor confidence in the company’s vision and its ability to deliver on its promises.

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