K P Energy Ltd ties up for development of 300 MW wind power project

K.P. Energy Limited has tied up with an Indian subsidiary of Europe based renowned Global WTG (Wind Turbine Generator) Manufacturer for developing Wind Power Project of 300 MW (130 Wind Turbine Generators of 2.3 MW each) at its Hajipir Site, Kutch, Gujarat. The project shall be connected with ISTS (Inter State Transmission System) Network of Central Transmission Utility.

KP Energy will facilitate distinct wind locations, Permits, Wind Campaign, Power Evacuation Infrastructure comprising of 220kv dedicated lines and Pooling Substation as per PGCIL Standards, Site civil works for WTG foundation, logistics & erection.

KP Energy has been working on land acquisition and wind campaign for more than a year at this Site. Also, this is the pilot site where KP Energy will be deploying LIDAR technology for wind measurements in addition to already installed met-masts, making long term power generation estimates more reliable for IPPs and offering best practices in driving assumptions to surety for auction driven Indian Wind Industry as a Wind Park Developer.

The binding Letter of Intent (LOI)/Term Sheet for the same has been signed with the renowned Global WTG manufacturer.

This project will add up to total 600MW (300MW + 300MW) projects with CTU (Central Transmission Utility) to be developed by team KP Energy in next two years.

The value of total business tie up by KP Energy to be executed in two years under STU (State Transmission Utility) and CTU (Central Transmission Utility) wind projects now exceeds Rs. 650 Crores.

Shares of K.P. Energy Ltd was last trading in BSE at Rs.302.1 as compared to the previous close of Rs. 284. The total number of shares traded during the day was 9375 in over 15 trades.

The stock hit an intraday high of Rs. 324.9 and intraday low of 284. The net turnover during the day was Rs. 2858187.

Source : Equity Bulls

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