The share of a small-cap green energy stock hit a 5% upper circuit on Thursday morning after signing a contract to develop a 300 MWAC grid-connected ground-mounted solar PV plant.
Share Price Movement
The shares of KPI Green Energy with a market capitalization of Rs 6,888.22 Crores, were trading around Rs 349.85 per share, 5% higher than its previous close of Rs 333. The shares generated -5% returns in the past year, and in the past 5 years it generated returns of 495%.
About the deal
As per a press release dated 30 January 2025, KPI Green Energy Limited has successfully signed a 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 price is ₹1,311.40 Crore, with completion expected by November 2025.
Recent Updates
As per a press release dated 29 January 2025, KPI Green Energy has signed a Memorandum of Understanding (MoU) with the Government of Odisha for the establishment of Renewable Energy Parks in the district of Ganjam, Odisha.
Financials
Its Revenue from operations grew by 67% from Rs. 215 Crores in Q2FY24 to Rs. 360 Crores in Q2FY25, and its Net profits doubled from Rs. 35 Crores to Rs. 70 Crores during the same period.
About the Company
KPI Green Energy Limited, part of the KP Group, is a Gujarat-based renewable power company established in 2008. It develops, owns, operates, and maintains renewable power plants as an IPP and service provider to CPPs under the brand ‘Solarism’. With over 150 customers and 3,071+ acres of land, it has a cumulative order of 2,409+ MW and 2.91+ GW orders. The company aims to achieve 10+ GW renewable capacity by 2030.
Written by Adhvaitha Nayani
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