Green Energy stock engaged in building, developing, owning, operating, and maintaining solar and hybrid power plants hit a 5% upper circuit in the day’s trade upon signing an MoU with the Government of Odisha for the development of Renewable Energy Parks.
Price Action
With a market capitalization of Rs. 6,563 Crores, the shares of KPI Green Limited hit a 5 percent upper circuit in the day’s trade at Rs. 333.30 per equity share, from its previous day’s close price of Rs. 317.45.
What Happened
KPI Green Energy Limited 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, demonstrating mutual commitment to the growth of the renewable energy sector and vision for a sustainable, clean energy future.
About the Company
KPI Green Energy Limited is a renewable energy company that builds, develops, owns, operates, and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producer (CPP) under the brand name ‘Solarism’.
KPI Green Energy Limited has 2.41+ GW of work orders in Hand, with 2346+MW of Cumulative Power evacuation capacity, it has 3,071+ Acres of Land Bank and it has an ambitious target of achieving 10+GW Renewable capacity by 2030.
Financials
Its Revenue from operations grew by 67 percent from Rs. 215 Crores in Q2FY24 to Rs. 360 Crores in Q2FY25, accompanied by profits of Rs. 35 Crores to Rs. 70 Crores.
Written by: Bharath K.S
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