K.P. Energy announced that it has signed power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) to develop the wind power project.
The company shall develop 30 MW wind power project and sell the energy to GUVNL at the approved tariff of Rs 2.43 per unit for operational life of the project.The project is scheduled to be completed in Q4 FY25.
This order marks a significant milestone for the firm, as the execution of this project will expand companys existing IPP capacity to approximately 50 MW.
K.P. Energy is primarily engaged in development of Balance of Plant of wind power projects and allied services related to it along with generation of electricity through its own wind power generating assets and operation and maintenance services of BoP of wind power projects primarily in India.
The power generation company reported 60.85% jump in consolidated net profit to Rs 24.90 crore on 39.62% rise in revenue from operations to Rs 207.26 crore in Q4 FY24 over Q4 FY23.
Shares of K.P. Energy fell 0.20% to Rs 440 on the BSE.
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