KPI Green Energy Shares Gain 2% on Securing 4.20-MW Solar Power Projects

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KPI Green Energy shares rose on October 9 after the company announced it had secured an order for a 4.20 megawatt (MW) solar power project under a captive power producer (CPP).

KPI Green energy
KPI Green energy

The company said in a regulatory filing that the addition of this order brings the company’s total solar power project orders to date to over 100 MW in the CPP sector. Completion of the mentioned projects is expected during this fiscal year.

The company secured orders from M/s. Maker filament is used for 2.0 MW, M/s Maker Synthetics for 1.0 MW and M/s Savita Synthetics for 1.2 MW. The company said in a filing that it will develop projects for each customer according to the terms of the agreement. The company is scheduled to announce its July-September quarter results today. Last week, the company received an order for a solar power project with a total output of 12.10MW. Of this, KPI Green Energy will take over 3.10 MW of his capacity while its wholly owned subsidiary Sun Drops Energia Pvt Ltd will supply 9 MW.

 As of 11:44 am, KPI Green Energy shares were trading at Rs 915.40 on the NSE, 1.41% higher than its previous closing price.

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