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KPI Green Energy shines on bagging Wind-Solar Hybrid Power Project
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KPI Green Energy is currently trading at Rs. 1520.90, up by 33.75 points or 2.27% from its previous closing of Rs. 1487.15 on the BSE.
The scrip opened at Rs. 1480.75 and has touched a high and low of Rs. 1544.00 and Rs. 1465.05 respectively. So far 9927 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1895.95 on 26-Feb-2024 and a 52 week low of Rs. 259.03 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1812.00 and Rs. 1465.05 respectively. The current market cap of the company is Rs. 8964.93 crore.
The promoters holding in the company stood at 53.08%, while Institutions and Non-Institutions held 8.05% and 38.87% respectively.
KPI Green Energy has emerged as the successful winner in the Gujarat Urja Vikas Nigam (GUVNL) tender for development of Wind-Solar Hybrid Power Project. This achievement marks a significant milestone in the company’s journey towards growth, consolidation and excellence.
The company had participated in the competitive bidding process under the ‘Procurement of power through competitive bidding process vide RFS No. GUVNL / 500 MW / Hybrid RE (Phase I)’ issued by GUVNL on November 1, 2023, followed by a reverse E-Auction held on January 22, 2024. This tender was for the development of 500 MW Hybrid Renewable Power Projects with a Greenshoe Option of additional capacity up to 500 MW.
The company has received the Letter of Intent with reference no. GUVNL/GM(RE)/Hybrid/368 dated March 14, 2024, awarding it the 50MW (comprising of 16.80 MW Wind and 50MW Solar) Wind-Solar Hybrid Power Project. The Power Purchase Agreement (PPA) with GUVNL shall be executed after obtaining the approval of the Gujarat Electricity Regulatory Commission (GERC).
KPI Green Energy (formerly known as K.P.I. Global Infrastructure) is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as service provider to Captive Power Producer (CPP) customers.
