KPI Green Energy share price rises 3% on Gujarat project win

KPI Green Energy

KPI Green Energy share price rose 3 percent in the opening trade on March 15 after the company won a wind-solar power project from Gujarat Urja Vikas Nigam Limited (GUVNL).

At 9.22 am, KPI Green Energy was quoting at Rs 1,536.25, up Rs 49.10, or 3.3 percent, on the BSE.

"... has emerged as the successful winner in the Gujarat Urja Vikas Nigam Limited (GUVNL) tender for development of wind-solar hybrid power project," the company said in an exchange filing.

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This tender was for the development of 500 MW hybrid renewable power projects with a greenshoe option of another 500 MW.

The company received the Letter of Intent on March 14, awarding the 50MW (comprising of 16.80 MW Wind and 50MW Solar) project.

The power purchase agreement (PPA) with GUVNL shall be executed after obtaining the approval of the Gujarat Electricity Regulatory Commission (GERC).

On March 8, the company received an order of total capacity of 305MWac, of which 175MWac was awarded by Aditya Birla Renewables Subsidiary Limited and 130MWac ABREL (RJ) Projects Limited for development of Balance of System forming part of a wind-solar hybrid power project in Gujarat.

On March 2, the company signed a PPA for 200MWAC (240MWp) grid connected Solar Photovoltaic Power Project for Procurement of Power from 800 MW grid connected Solar Photovoltaic Power Projects in in Khavda a greenshoe option of additional capacity upto 800MW.