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Green energy stock hits 5% upper circuit after it signs MoU with Coal India for solar PV plant

Prominent green energy company has signed a ₹1,311.40 crore contract with Coal India to develop a 300 MW solar PV plant in Gujarat, contributing to India’s renewable energy goals.
Green energy stock hits 5% upper circuit after signing MoU with Coal India for solar PV plant.
Green energy stock hits 5% upper circuit after signing MoU with Coal India for solar PV plant.

Introduction:

Leading green energy firm has signed a contract with Coal India Ltd. to develop a 300 MW solar PV plant in Gujarat. Valued at ₹1,311.40 crore, the project supports India’s renewable energy transition and its 10 GW target by 2030.

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Also Read: Stocks To Watch For Budget 2025

Share price movement of KPI Green Energy:

On January 30, 2025, KPI Green Energy Ltd. opened at ₹349.95, up 5.00% from its previous close of ₹333.30. The stock reached a high and low of ₹349.95. By 10:45 AM, it traded at ₹349.95, with a market cap of ₹6,890.19 crore.

KPI Green Energy Signs Contract for 300 MW Solar PV Plant:

KPI Green Energy Limited has signed a contract with Coal India Ltd. to develop a 300 MWAC grid-connected solar PV plant at GIPCL’s Solar Park in Khavda, Gujarat. The contract is valued at ₹1,311.40 crore, with completion expected by November 2025.

This project marks a significant step in the company’s commitment to renewable energy. The contract includes Operation & Maintenance (O&M) services for five years, contributing to India’s transition to sustainable energy and its goal of reaching 10 GW capacity by 2030.

KPI Green Energy’s CEO emphasized the company’s dedication to meeting ambitious renewable energy targets. The project will strengthen the nation’s energy transition while creating opportunities in the solar power sector, reaffirming KPI Green Energy’s leadership in the industry.

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 under its CPP segment. Projects are expected to be completed by FY26.

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

KPI Green Energy Ltd. has experienced a 9.97% decline over the past week and a significant 50.5% drop in the past six months. Over the past year, the stock has fallen 17.7%, reflecting recent challenges in its performance.

Also Read: Best Sectors To Watch For Budget 2025

Shareholding pattern of KPI Green Energy:

All values in %Dec 2024Sep 2024Jun 2024
Promoter48.80%48.80%53.10%
FII8.80%10.00%6.10%
DII1.90%1.60%0.30%
Public40.50%39.80%40.50%
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About KPI Green Energy:

KPI Green Energy Ltd. (NSE: KPIGREEN), established in 2008, develops, builds, and manages renewable power facilities, specializing in solar and wind-solar hybrid projects. Operating under the “Solarism” brand, it serves both Independent and Captive Power Producers.

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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