KPI Green Energy shares gain on deal to develop green power projects

Share price of KPI Green Energy rose slightly on August 16 after the company signed a contract with Mahatma Phule Renewable Energy and Infrastructure Technology Co., Ltd (MAHAPREIT), a subsidiary of Vietnam Development Corporation. Mahatma Phule Backward Development Class (MPBCDC), a government enterprise in Maharashtra.
At 10:06 am, KPI Green Energy was trading at Rs 841.20, up Rs 2.65, or 0.32%, on BSE.
This partnership establishes an important strategic partnership to advance various projects, especially those in the renewable energy sector, the company said.
As part of this agreement, KPI Green Energy has been appointed as a Knowledge Partner of MAHAPREIT, providing support in overcoming initial challenges by designing and building blueprints for strategic planning. project specific.
KPI Green Energy will provide dedicated support in operational control and management aspects throughout the project lifecycle. Earlier this month, the company won a bid from Gujarat Urja Vikas Nigam Limited (GUVNL) to develop a solar photovoltaic power project.
The company successfully bid for a base capacity of 100 MWAC (120 MWP) and under the Greenshoe option, accepted a proposal for an additional 100 MWAC (120 MWP), thus securing a total capacity of 200 MWAC (240 MWP). connected to the solar photovoltaic network. project.
The company reported a profit of Rs 33.26 crore for the quarter ended June 2023 compared with Rs 22.23 a year ago.