KPI Green Energy shares rise 3% as firm bagged EPC contract for project in Gujarat; all you need to know

The work order includes handling the engineering, procurement, and construction of a 142 MW (DC) / 110 MW (AC) floating solar project at the Kadana Dam reservoir in Mahisagar district, Gujarat.

“This marks a landmark contract for KPI Green Energy and underscores the company’s growing leadership in large-scale renewable energy infrastructure. The floating solar project represents a strategic diversification for the company—combining solar power generation with innovative floating PV technology—and positions KPI Green Energy as a premier EPC solutions provider across ground-mounted, rooftop, and now floating solar segments,” the company said in a regulatory filing.

The project includes a full turnkey scope covering design, engineering, procurement, construction, and installation of the floating solar PV system. KPC said this involves setting up the grid-connection infrastructure, including a 33 kV underground transmission line to the pooling station and 33/220 kV bays at the Kadana substation.

The order also involves a 10-year operations and maintenance (O&M) contract while the entire project is expected to be completed within 18 months.

Commenting on the development, Dr Faruk G. Patel, Chairman and Managing Director, KP Group, said, “Winning the 110 MW floating solar EPC contract from GSECL is a major milestone for KPI Green Energy and the KP Group. It expands our portfolio into next-gen floating solar technology, reinforces our full-service EPC credentials, and underscores our commitment to driving India’s energy transition. We look forward to executing this project safely, on time, and to the highest quality standards.”

KPI Green Energy share price

Though shares of the firm were trading higher in the early session, it lost momentum later and slipped 2.3% to an intraday low of ₹420 apiece on NSE. At 12:14 PM, KPI Green Energy shares were trading at ₹427.75 apiece, declining 0.5%.

Over the past five trading sessions, shares of the company have lost 3.5%, while they have fallen 21% in a month. In the last six months, the stock tumbled 11% and has declined 22.5% from the beginning of the year.

Shares of KPI Green hit a 52-week high of ₹588.80 on January 3, 2025, and a 52-week low of ₹313.40 on January 29, 2025. Its market capitalisation stood at ₹8,440.28 crore.