 "KP Energy share gains 5%, hits record high on securing order from KPI Green")
KP Energy share price: Energy company KP Energy shares hit 5 per cent upper circuit at Rs 636.40 per share in intraday deals on Tuesday, November 05, 2024. This is also the stock’s fresh record high.
The uptick in KP Energy share price came after the company secured over 1 GW order for development of wind-solar hybrid and solar power projects from KPI Green.
In an exchange filing, KP Energy said, “We are pleased to inform you that K.P. Energy Limited (the “Company”) has received new orders aggregating to 1003.7MW capacity for development of renewable energy projects from KPI Green Energy Limited.”
The Phase - I of the project has a capacity of 86.8 MW, Phase -2 has a capacity of 641.9 MW while Phase -3 has a capacity of 275 MW, the company said in a statement.
According to the order details, KP Energy will be responsible for providing a range of services, including Engineering, Procurement, Construction, and Commissioning (EPCC) for the project. This inter-alia entails activities such as designing, supply, construction, erection, testing, commissioning and securing the necessary approvals and permits for the Project, the company added.
KP Energy Limited (KPEL) is among the leading renewable energy companies in India, specialising in developing wind and solar power projects.
With a focus on providing comprehensive, turnkey solutions for wind farms, KPEL handles every stage of project development—from identifying suitable locations and securing land and permits to constructing balance-of-plant (BoP) infrastructure.
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Additionally, KPEL owns and operates wind turbine generators (WTGs) and solar power plants, underscoring its commitment to advancing clean energy in India.
Based in Gujarat, KPEL has established considerable wind power projects across the region, including a 300 MW project in Kutch, a 250.8 MW facility in Dwarka, and a 10.5 MW plant in Devbhumi Dwarka.
Originally a part of the KP Group—a logistics provider founded in 1994—KPEL became a public entity in 2015. The company operates out of its corporate office in Surat, Gujarat.
KP Energy’s market capitalisation is Rs 4,208.14 crore, according to BSE. The company falls under the BSE SmallCap category.
At 12:18 PM, KP Energy shares were trading 4.26 per cent higher at Rs 631.95. In comparison, BSE Sensex was trading 0.49 per cent lower at 78,393.70 levels.