The shares of KPI Green Energy Ltd were locked at 5% upper circuit on Thursday, 30 January, after the company announced signing a contract with Coal India Limited for developing a 300 MWAC grid-connected ground-mounted solar PV plant.
In its regulatory filing, the company said, “We are delighted to announce that KPI Green Energy Limited has successfully signed Contract Agreement with Coal India Limited to develop a 300 MWAC grid-connected ground-mounted solar PV plant with Operation & Maintenance (O&M) services for five years at GIPCL’s Solar Park in Khavda, Gujarat.”
The contract is worth Rs 1,311.40 crore and has to be executed by November 2025.
The filing added, “It’s a privilege for our company to contribute to the nation’s transition to sustainable renewable energy, reinforcing and accelerating our efforts to meet our ambitious target of 10 GW capacity by 2030.”
Founded in 2008, KPI Green Energy Ltd is a subsidiary of KP Group, specializing in renewable energy solutions. The company manages the entire lifecycle of solar and wind-solar hybrid power projects, from development to maintenance.
Operating as both an Independent Power Producer (IPP) and a service provider for Captive Power Producers (CPPs) under its ‘Solarism’ brand, KPI Green Energy is involved in the development, construction, ownership, operation, and maintenance of renewable energy facilities.
At 2:12 pm, the shares of KPI Green Energy were locked 5% higher at Rs 349.85 on NSE.
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