KPI Green Energy receives approval to set up SPV with focus on electrical, wind, solar energies

KPI Green Energy on Wednesday, July 2, announced the incorporation of a special purpose vehicle (SPV), KPIN Clean Power Three LLP (KCPTL), to focus on the renewable energy sector.

The SPV was set up with a total contribution of ₹1 lakh, with KPI Green Energy contributing ₹99,000 and KPark Sunbeat Private Limited, the former’s wholly owned subsidiary, contributing ₹1,000, the regulatory filing said.

The main goal of the SPV will be to generate, develop, transform, distribute, transmit, sell and supply renewable sources of energy, including electrical, wind, solar and other forms of energy.

The incorporation of the SPV was greenlit by the Ministry of Corporate Affairs, the statement read.

On June 28 and 19, the energy company incorporated two other SPVs, KPIN Clean Power Two LLP and KPIN Clean Power Five LLP, respectively.

KPI Green Energy’s solar energy arm bags multiple orders

In June, KPI Green Energy’s subsidiary, Sun Drops Energia Private Limited, bagged letters of award (LoA) for the development of solar power projects with an aggregate capacity of 36.87 MW by various clients.

The projects are tentatively scheduled to be completed during the 2025-26 financial year in various tranches as per the terms of the order.

Stock performance

Shares of KPI Green Energy closed 2.43% lower at ₹516 apiece on the National Stock Exchange (NSE) on Wednesday. However, the incorporation announcement came after market hours.

The stock has gained 3.98% so far this week and 5.49% in June. While the scrip soared 25.99% in the first quarter of FY26, it lost 5.27% on a year-to-date basis.

It reached a 52-week low of ₹313.40 per share on January 29, 2025, and a high of ₹745.33 on August 12, 2024.

KPI Green Energy has a total market capitalisation of ₹10,182.80 crore, as of July 2, 2025, as per the data on the NSE.