Stock Report

KPI Green Energy Ltd emerges successful winner in GUVNL tender

Posted On : 2024-03-14 22:29:44( TIMEZONE : IST )

KPI Green Energy Limited (Formerly known on K.P.I. Global Infrastructure Limited) has emerged as the successful winner in the Gujarat Urja Vikas Nigam Limited (GUVNL) tender for development of Wind-Solar Hybrid Power Project. This achievement marks a significant milestone in our journey towards growth, consolidation and excellence.

The Company had participated in the competitive bidding process under the "Procurement of power through competitive bidding process vide RFS No. GUVNL / 500 MW / Hybrid RE (Phase I)" issued by GUVNL on November 1, 2023, followed by a reverse E-Auction held on January 22, 2024. This tender was for the development of 500 MW Hybrid Renewable Power Projects with a Greenshoe Option of additional capacity up to 500 MW.

We have received the Letter of Intent with reference no. GUVNL/GM(RE)/Hybrid/368 dated March 14, 2024, awarding us the 50MW (comprising of 16.80 MW Wind and 50MW Solar) Wind-Solar Hybrid Power Project. The Power Purchase Agreement (PPA) with GUVNL shall be executed after obtaining the approval of the Gujarat Electricity Regulatory Commission (GERC).

It gives us immense pride to share that this tender win is aligned with our strategic vision and ambitious target of achieving 1000 MW by the year 2025. The magnitude of this LOI demonstrates the trust and confidence placed in our company's capabilities, technical expertise, and commitment to delivering high-quality sustainable energy solutions. This achievement further strengthens our position in the industry and reinforces our commitment to driving the transition towards clean and renewable energy sources.

Shares of K.P.I. Green Energy Ltd was last trading in BSE at Rs. 1487.15 as compared to the previous close of Rs. 1551.40. The total number of shares traded during the day was 94612 in over 6031 trades.

The stock hit an intraday high of Rs. 1515.90 and intraday low of 1473.85. The net turnover during the day was Rs. 140440747.00.