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Here's why KPI Green share was locked in 5% upper circuit on January 30

KPI Green share rose after the company signed Contract Agreement with Coal India to develop a 300 MWAC grid-connected ground-mounted solar PV plant for five years in Khavda, Gujarat

The lure of floating solar plants

SI Reporter New Delhi

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KPI Green share price: KPI Green shares were buzzing in trade on Thursday, January 30, 2025, as the scrip was locked in 5 per cent upper circuit at Rs 349.95 apiece.
 
The uptick in KPI Green share price came after the company announced that it has signed Contract Agreement with Coal India Limited to develop a 300 MWAC grid-connected ground-mounted solar PV plant with Operation & Maintenance (O&M) services for five years at GIPCL’s Solar Park in Khavda, Gujarat. 
 
In an exchange filing, KPI Green said, “We are delighted to announce that KPI Green Energy Limited has successfully signed Contract Agreement with Coal India Limited to develop a 300 MWAC grid-connected ground-mounted solar PV plant with Operation & Maintenance (O&M) services for five years at GIPCL’s Solar Park in Khavda, Gujarat.”
 
 
The contract is worth Rs 1,311.40 crore, with completion expected by November 2025, KPI Green Energy said.
 
“It’s a privilege for our company to contribute to the nation’s transition to sustainable renewable energy, reinforcing and accelerating our efforts to meet our ambitious target of 10 GW capacity by 2030,” KPI Green said in a statement.
 
About KPI Green 
 
Established in 2008, KPI Green Energy Ltd operates as a subsidiary of KP Group. Specialising in renewable energy, the company undertakes the complete lifecycle of solar and wind solar hybrid power projects. 
 
It functions both as an Independent Power Producer (IPP) and service provider for Captive Power Producers (CPPs) under its ‘Solarism’ brand, offering development, construction, ownership, management, and maintenance services for renewable power facilities.
 
The market capitalisation of KPI Green is Rs 6,890.19 crore, according to BSE.
 
The 52-week high of the stock is Rs 744.37, while its 52-week low is Rs 312.95 per share.
 
At 12:01 PM, shares of KPI Green continued to remain locked in the 5 pe recent upper circuit at Rs 349.95. In comparison, BSE Sensex was trading 0.29 per cent higher at 76,757.88 levels.

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First Published: Jan 30 2025 | 12:18 PM IST

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