KPI Green Energy added 1.39% to Rs 911 after the company said that it is developing solar power projects aggregating 24.90 megawatt peak (MWp) capacity from various captive customers under the 'Captive Power Producer (CPP)' segment.
The execution of the said project is being executed through two wholly owned subsidiaries of the company viz., KPIG Energia and Sundrops Energia.
"Execution of the development works have been commenced at the site and the entire capacity is scheduled to be completed by March 31, 2023, in various tranches as per the terms of the order, KPI Green said in a statement.
The company, through the aforementioned subsidiaries, has commissioned 38.76 MWp solar power projects under both CPP and IPP segment and upon commissioning of the new orders aggregating to 24.90 MWp, total cumulative capacity of the solar power projects under both CPP and IPP segment shall stand at 63.66 MWp, through the wholly owned subsidiary companies.
KPI Green Energy (formerly known as K.P.I. Global Infrastructure) generates and sells solar power under 'Solarism' brand name in India. It develops, builds, owns, operates, and maintains solar power plants as an independent power producer and captive power producer.
On consolidated basis, the company's net profit jumped 72.6% to Rs 21.16 crore on 178.3% surge in net sales to Rs 159.84 crore in Q2 FY23 over Q2 FY22.
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