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Green energy stock jumps 4% after it receives order for solar PV plant from Coal India

Prominent renewable energy company has received a ₹1,311 crore order from Coal India for a 300 MWAC solar project, boosting its clean energy portfolio and commitment to sustainability.
Green energy stock surges 4% after securing solar PV plant order from Coal India, boosting growth.
Green energy stock surges 4% after securing solar PV plant order from Coal India, boosting growth.

Introduction:

Leading renewable energy company has secured a significant order from Coal India for a 300 MWAC solar project. This project, valued at ₹1,311 crore, strengthens the company’s clean energy portfolio and highlights its commitment to sustainable energy solutions.

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Share price movement of KPI:

On December 3, 2024, KPI Green Energy Ltd opened at ₹808.00, up 3.69% from its previous close of ₹779.25. The stock reached a high of ₹810.00 and a low of ₹796.00. By 12:58 PM, it traded at ₹803.10, a 3.06% increase, with a market cap of ₹10,541.52 crore.

KPI secures 300 MWAC solar project:

KPI Green Energy Limited has secured its largest-ever order from Coal India Limited for setting up a 300 MWAC (405 MWDC) ground-mounted solar PV plant. The order includes comprehensive Operation & Maintenance (O&M) services for five years.

The 300 MWAC solar project will be executed on an EPC basis at GIPCL’s Solar Park in Gujarat. The contract, valued at ₹1,311 crore, strengthens KPI Green Energy’s position in the renewable energy sector and enhances its clean energy portfolio significantly.

This achievement marks a milestone for KPI Green Energy, with over 507 MW of renewable power plants already completed. The company aims to meet aggressive project timelines while advancing its commitment to sustainable energy solutions.

Recent news on KPI:

As of 14 Nov 2024, KPI Green Energy Ltd.’s board recommended a 1:2 bonus share issue, subject to shareholder approval. The bonus shares, to be dispatched by January 14, 2025, will be issued from the company’s securities premium account.

Ace investor holding in KPI:

Irfanahmed Shahabuddin Mombasawala

Irfanahmed Shahabuddin Mombasawala holds a 1.72% stake in KPI Green Energy Ltd, with 2,257,450 shares valued at ₹181.3 crore. This significant holding reflects confidence in the company’s growth and renewable energy initiatives.

Kutir Navinchandra Patel

Kutir Navinchandra Patel holds a 1.01% stake in KPI Green Energy Ltd, with 1,325,806 shares valued at ₹106.3 crore. This investment highlights his confidence in the company’s growth and its clean energy projects.

Stock performance of KPI for Period of 1 week, 6 months and 1 year:

KPI Green Energy has delivered a 3.06% return over the past week, while facing an 11.8% decline over the last six months. However, the company has shown impressive growth with a 96.9% return over the past year.

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Shareholding pattern of KPI:

All values in %Sep 2024Jun 2024Mar 2024
Promoter48.80%48.80%53.10%
FII10.00%12.40%7%
DII1.60%1.90%0.30%
Public39.80%37.00%39.80%
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About KPI:

KPI Green Energy Ltd. (NSE: KPIGREEN), part of KP Group, develops, builds, and manages renewable energy projects, including solar and wind solar hybrid power. As an Independent Power Producer, it offers services under the “Solarism” brand.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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