KPI Green Energy hits 5% upper circuit after bagging 100 MW solar power project order from MAHAGENCO
Upstox
2 min read • Updated: March 18, 2024, 11:52 AM
Summary
KPI Green Energy opened at ₹1,525.35 on Monday, gaining 5% to hit the upper circuit. In an exchange filing, the company informed that it emerged as the successful bidder for the MAHAGENCO tender for the development of a 100 MW solar power project.
Shares of KPI Green Energy Limited were locked in their upper circuit on Monday after bagging a 100-megawatt (MW) solar power project from the Maharashtra State Power Generation Company (MAHAGENCO).
The stock opened at ₹1,525.35, gaining 5% to hit the upper circuit. On Friday, KPI Green Energy shares closed at ₹1452.75 per unit.
In an exchange filing, the solar power generation company informed that it emerged as the successful bidder in the MAHAGENCO tender for development of a 100 MW solar power project.
KPI Green Energy had participated in the "EPC package with land to develop cumulative capacity 600 MWac solar-PV power projects at various locations in Maharashtra under RE bundling scheme". It received the order for a 100-MW project.
Last week, the company won a 50 MW (comprising 16.80 MW wind and 50MW solar) wind-solar hybrid power project from Gujarat Urja Vikas Nigam Limited (GUVNL).
On March 8, KPI Green Energy received an order for the development of 305 MW solar projects.
Out of the total capacity, "175MWac (megawatt alternative current) is awarded by Aditya Birla Renewables Subsidiary Limited and 130MWac is awarded by ABREL (RJ) Projects Limited for development of balance of system for 305MWac solar capacity forming part of the wind-solar hybrid power project in the state of Gujarat," the company had said in the regulatory filing.