KPI Green Energy announced on Wednesday that it has reached zero net debt status on a standalone basis. In a regulatory filing, the company confirmed that as of August 28, 2024, it has successfully eliminated its net debt. This achievement reflects the company’s commitment to maintaining a strong financial position and is expected to lead to significant savings in annual interest and finance costs.
The company highlighted that this milestone not only reinforces its financial stability but also improves its credit profile, setting the stage for sustainable growth. KPI Green Energy emphasized its ongoing commitment to providing value to stakeholders through prudent financial management and strategic planning.
Additionally, KPI Green Energy recently disclosed that its wholly-owned subsidiary, Sun Drops Energia Private Limited, has been awarded a 13.30 MW solar power plant project. This project is scheduled for completion in the 2024-25 financial year, in phases as specified by the contract.
Earlier this month, KPI Green Energy reported a 99 percent year-over-year increase in profit, reaching Rs 66.10 crore for the June quarter, up from Rs 33.30 crore in the same period last year. The board also approved a dividend of 20 paise per share, with August 21 set as the record date.
KPI Green Energy Ltd., based in India, is a rapidly growing company in the renewable energy sector, primarily focusing on solar power generation. The company develops, builds, owns, and operates solar power plants, catering to both industrial and commercial clients under the Independent Power Producer (IPP) model.
KPI Green Energy also engages in the sale of solar power under its Captive Power Producer (CPP) model. With an increasing emphasis on sustainability and green energy, the company has been expanding its capacity and footprint, contributing significantly to the shift towards clean energy in India. KPI Green Energy’s projects are known for their efficiency and commitment to reducing carbon emissions, aligning with global trends towards renewable energy adoption.
