The power generation company announced that it has emerged as the successful winner in the Gujarat Urja Vikas Nigam (GUVNL) tender for development of 50 MW wind-solar hybrid power project.
The 50 MW wind-solar hybrid power project, comprises of 16.80 MW wind and 50MW solar.The company had participated in the competitive bidding process under the procurement of power through competitive bidding process issued by GUVNL on 1 November 2023, followed by a reverse e-auction held on 22 January 2024. This tender was for the development of 500 MW hybrid renewable power projects with a greenshoe option of additional capacity up to 500 MW.
The firm received letter of intent (LoI) for 50MW wind-solar hybrid power project on 14 March 2024. The power purchase agreement (PPA) with GUVNL shall be executed after obtaining the approval of the Gujarat Electricity Regulatory Commission (GERC).
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 increased 46.87% to Rs 50.60 crore on 84.20% jump in revenue from operations to Rs 330.11 crore in Q3 FY24 over Q3 FY23.
The scrip fell 3.25% to trade at Rs 1,438.75 on the BSE.
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