A significant milestone has been achieved in the renewable energy sector as a leading solar power company secures a pivotal contract for a large-scale solar project. The project represents a strategic expansion into ground-mounted solar photovoltaic infrastructure, marking an important step towards sustainable energy development.
The contract involves establishing a substantial 300 MW solar power plant, demonstrating the company’s commitment to clean energy initiatives. This venture is strategically located in a prominent solar park, positioning the project at the forefront of India’s renewable energy transformation.
Share Price Movement
The share price of KPI Green Energy Limited went up by 2.65 percent to Rs. 807 per share on Monday, an increase from its previous close of Rs. 787.5 per share. The market capitalisation now stands at approximately Rs. 10,323 crore as of December 02, 2024.
What happened
KPI Green successfully secured a green order from Coal India Limited (CIL) for setting up a 300 MW ground-mounted solar PV plant at GIPCL’s Solar Park in Khavda, Gujarat. The project, with a 5-year O&M agreement, supports KPI’s goal of achieving 10 GW capacity by 2030.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, KPI Green Energy’s consolidated revenue from operations has increased by 67.4 percent YOY from Rs. 215 crore in Q2 FY24 to Rs. 360 crore in Q2 FY25 and increased by 3.4 percent QoQ from Rs. 348 crore in Q4 FY24.
The company’s consolidated net profit has increased by 100 percent, from Rs. 35 crore in Q2 FY24 to Rs. 70 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 6.06 percent QoQ from Rs. 66 crore.
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Market Outlook
The renewable energy sector in India has immense potential, with about 5,000 MW of energy potential, and solar energy can contribute up to 749 MW per sq. km per day. The government has set ambitious goals to increase the share of renewable energy to 40% by 2030, from the current level of 24%.
Shareholding Pattern
As of the November 2024 shareholding pattern, KPI Green Energy Limited is primarily held by the promoters at 48.77 percent, foreign institutional investors hold 9.95 percent, and the public with 39.8 percent.
About Company
KPI Green Energy Limited, founded in 2008 and headquartered in Surat, Gujarat, has emerged as a key player in the renewable energy sector. Operating under the brand name “Solarism,” the company specialises in solar power generation and serves as both an independent power producer (IPP) and a service provider for captive power producers (CPP). With a current power generation capacity of over 346 MW, KPI Green Energy is on track to achieve 1000 MW by 2025.
The company follows a dual business model, focusing on developing solar power plants for IPPs and providing cost-effective renewable power solutions for industrial clients through CPPs. KPI Green Energy is committed to sustainability, with a vision to contribute to India’s renewable energy goals and reduce emissions. Under the leadership of Dr. Faruk G. Patel, the company has expanded its market reach and secured key partnerships, particularly in hybrid energy projects.
Looking ahead, KPI Green Energy is well-positioned for growth, driven by technological innovation and increasing demand for clean energy in India. The company’s strong market presence and strategic expansion efforts signal a promising future in the evolving renewable energy landscape.
Written By Fazal Ul Vahab C H
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