KPI Green Energy announced that it has signed power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL) for 620MW AC (917MW DC) renewable energy project.
The company won a 250 MW AC (275MW DC) and a 370 MW AC (642 MW DC) grid connected solar photovoltaic power project for procurement of power from 500 MW grid connected solar photovoltaic power projects located at anywhere in India with greenshoe option of additional capacity upto 500MW without energy storage.The company has a target of achieveing 10 GW capacity by 2030.
KPI Green Energy develops and maintains grid connected solar power projects and sells power units generated from the company's solar plants.
The companys consolidated net profit surged 98.76% to Rs 66.11 crore in Q1 FY25 as compared to Rs 33.26 crore recorded in Q1 FY24. Revenue from operations climbed 83.78% year on year (YoY) to Rs 348.01 crore in Q1 FY25.
Shares of KPI Green Energy added 0.98% to Rs 805.05 on the BSE.
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