The shares of KPI Green Energy Limited gained 5 percent in morning trade on January 29 to get locked in the upper circuit at Rs 333.20 per share. This comes after the company announced that it has signed a Memorandum of Understanding (MoU) with Government of Odisha for the establishment of Renewable Energy Parks in the district of Ganjam.
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The company made the announcement through an exchange filing which was released on January 29. "By signing this MoU, we demonstrate our mutual commitment to the growth of the renewable energy sector and our vision for a sustainable, clean energy future," the company said in the release.
At the beginning of this year, the company had announced that its subsidiary Sun Drops Energia Pvt Ltd had received letters of intent for the development of solar power projects. These projects overall encompass a cumulative capacity of 32.15 MW, as a part of the company's captive power producer (CPP) business segment.
These projects are expected to be finished during the fiscal year 2025-26, in segments, as stated in an exchange filing about the orders.
Moreover, the order wins are from the entities as follows — Aditya Ultra Steel, Suraj Dyeing & Printing, Sunita Processors, Balaji Polyester, Citizen Metalalloys, Suez Internationals, Vintage Tiles, SIddheswari Textile, PD & Sons, Hayat Enterprise, Meghdoot Leisure and Devang Paper Mill.
Notably, the company had concluded 2024 with a major order win. It achieved its largest-ever order in December, worth Rs 1,311 crore, from Coal India. As part of the order, it will set-up a 300 MWAC (405 MWDC) Ground mounted Solar PV plant. The order includes the Operation & Maintenance (O&M) services on comprehensive basis for period of five years on an engineering, procurement, and construction basis at GIPCL’s Solar Park, Khavda, Gujarat.
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