Renewable energy stock hits 5% upper circuit after signing MoU with Govt of Odisha for renewable energy parksRenewable energy stock hits 5% upper circuit after signing MoU with Govt of Odisha for renewable energy parks

Introduction:

Leading renewable energy firm has signed an MoU with the Government of Odisha to establish Renewable Energy Parks in Ganjam district. This partnership aims to advance clean energy initiatives and contribute to the region’s sustainability goals.

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Share price movement of KPI Green Energy:

On January 29, 2025, KPI Green Energy Ltd opened at ₹318.05, up 0.21% from its previous close of ₹317.45. The stock reached a high of ₹333.30 (4.99%) and a low of ₹312.95. By 12:06 PM, it traded at ₹333.30, a 4.99% increase, with a market cap of ₹6,562.36 crore.

KPI Green Energy Signs MoU with Odisha:

KPI Green Energy Limited has signed a Memorandum of Understanding (MoU) with the Government of Odisha for the establishment of Renewable Energy Parks in Ganjam district, Odisha. This partnership aims to boost the renewable energy sector and promote sustainability.

The MoU highlights the company’s commitment to clean energy and aligns with its vision of creating long-term value through renewable energy projects. The parks are expected to contribute significantly to Odisha’s energy needs while supporting environmental goals.

This move demonstrates KPI Green Energy Limited’s role in accelerating the transition to renewable energy. The development of the Renewable Energy Parks will help further strengthen India’s clean energy initiatives.

Recent news on KPI Green Energy:

As of January 03, 2025, KPI Green Energy Ltd announced that its subsidiary, Sun Drops Energia Pvt Ltd, received letters of intent for solar power projects totaling 32.15 MW, with completion scheduled for the 2025-26 financial year.

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

The stock of KPI Green Energy Ltd. has seen a significant decline, with a -18.5% drop over the past week. It also reported a -52.9% decrease over six months and a -13.7% decline year-on-year, reflecting challenging market conditions.

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Shareholding pattern of KPI Green Energy:

All values in %	Dec 2024	Sep 2024	Jun 2024
Promoter	48.80%	48.80%	53%
FII	8.80%	10%	6.10%
DII	1.90%	1.60%	0.30%
Public	40.50%	39.80%	40.50%

About KPI Green Energy:

KPI Green Energy Ltd (NSE: KPIGREEN) is a leading renewable energy company, developing solar and hybrid power plants under the ‘Solarism’ brand. It provides power solutions to Captive Power Producers (CPPs) and Independent Power Producers (IPP).

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.