KPI Green Energy Limited has received an order for a 100-MW hybrid solar power project from Aether Industries Limited. The project will be completed in stages during the 2024-25 fiscal year, according to a company announcement on July 19.
Despite this new order, KPI Green Energy’s shares dropped 5% to ₹1,016.80 on the National Stock Exchange on July 19. The stock had initially opened at ₹1,080, its 52-week high, but it could not maintain the gains and fell throughout the day.
Earlier, on July 5, KPI Green Energy signed a power purchase agreement with Gujarat UrjaVikas Nigam Limited for a 50 MW solar-wind hybrid project. This project is part of the company’s goal to reach 1000 MW capacity by 2025.
Recently, KPI Green Energy completed a 2:1 stock split and issued bonus shares. Foreign portfolio investors increased their stake in the company from 5.5% in March 2024 to 6.1% by June 2024, while the number of small shareholders rose from 1.51 lakh to 1.91 lakh in the same period.
KPI Green Energy’s stock has seen significant fluctuations, hitting a high of ₹1,080 on July 19, 2024, and a low of ₹248.67 on August 2, 2023. KPI Green Energy Limited is a prominent player in the renewable energy sector, focusing on the development and operation of solar power projects.
Despite facing some volatility in its stock price, KPI Green Energy continues to attract interest from foreign portfolio investors and an increasing number of small shareholders, reflecting confidence in its long-term growth prospects.
