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07-11-2023 03:39 PM | Source: Accord Fintech
KP Energy surges after awarding order of 7 wind turbines to Suzlon Energy
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KP Energy is currently trading at Rs. 373.55, up by 9.95 points or 2.74% from its previous closing of Rs. 363.60 on the BSE.

The scrip opened at Rs. 363.60 and has touched a high and low of Rs. 381.75 and Rs. 359.00 respectively. So far 326430 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 396.95 on 06-Jul-2023 and a 52 week low of Rs. 99.05 on 21-Jul-2022.

Last one week high and low of the scrip stood at Rs. 396.95 and Rs. 355.35 respectively. The current market cap of the company is Rs. 833.18 crore.

The promoters holding in the company stood at 44.80%, while Institutions and Non-Institutions held 0.06% and 55.14% respectively.

KP Energy has awarded the order of 7 wind turbines, representing a capacity of 19.6 MW of S133 model wind turbines, to Suzlon Energy (Suzlon) and balance 10 wind turbines of S133 are ordered by KPI Green Energy. The project will be developed at the Vagra site in Bharuch district as part of the Company's Independent Power Producer (IPP) segment, which focuses on building its own power generating assets and selling green energy to customers who want to decarbonise their operations. The Company will make the necessary arrangements to sell the power generated by these projects to Commercial and Industrial (C&I) clients for captive use.

A wind turbine supply order for a total of 47.60 MW has been placed by KP Group to Suzlon Energy. This order comprises 17 wind turbines of S133 model, to be supplied by Suzlon. The Company's current IPP portfolio stands at 18.4 MW. Upon commissioning of the 19.6 MW project, the cumulative capacity will increase to 38 MW. This order signifies a significant milestone for the Company, bringing it closer to its objective of fostering a greener and more reliable energy landscape in the country. 

KP Energy is engaged in operating solar and wind energy projects in India.