Latest news with #GUVNL
Business Upturn
18 hours ago
- Business
- Business Upturn
KPI Green Energy shares climb over 3% after winning 150 MW wind power project from GUVNL
By Aditya Bhagchandani Published on July 16, 2025, 10:06 IST Shares of KPI Green Energy Ltd rose over 3% on Wednesday, July 16, trading at ₹558.10 on NSE at 10:02 AM — up ₹18.05 from the previous close of ₹540.05 — after the company announced it has secured a major wind power project order from Gujarat Urja Vikas Nigam Limited (GUVNL). The stock touched a day's high of ₹563.00 and a low of ₹537.00 during the session, with a market capitalization of about ₹109.92 billion and a P/E ratio of 34.56. Average daily trading volume stood at about 1.07 million shares. Order details On July 15, KPI Green Energy disclosed it has received a Letter of Intent (LOI) from GUVNL for the development of a 150 MW grid-connected wind power project. This follows the company's successful bid in GUVNL's competitive tender (Phase IX) issued in January 2025, which included a reverse auction held in April 2025. The project aligns with KPI's strategic vision of achieving 10 GW capacity by 2030, showcasing the company's growing capabilities in renewable energy and its strong positioning in India's clean energy transition. According to the company's filing, the project will proceed as per the timeline and terms outlined in the GUVNL tender. The Power Purchase Agreement (PPA) will be signed upon obtaining approval from the Gujarat Electricity Regulatory Commission (GERC). About the company KPI Green Energy specializes in developing, owning, and operating renewable energy assets, with a focus on both solar and wind projects across India. Investor sentiment turned positive after the announcement of the large-scale project win, reflecting confidence in the company's growth trajectory. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
a day ago
- Business
- Time of India
KPI Green Energy to develop 150 MW wind power projects in Gujarat
KPI Green Energy Ltd , the solar and hybrid energy arm of the KP Group, has secured a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) to develop 150 megawatts (MW) of wind power projects in Gujarat . The LoI was awarded following KPI Green Energy 's successful participation in a competitive bidding process initiated by GUVNL, specifically under its 'Wind Phase IX' tender. The company emerged as a successful bidder in a reverse e-auction held on April 22, 2025. While the LoI is a crucial step, the formal Power Purchase Agreement (PPA) with GUVNL will be executed only after obtaining the necessary approvals from the Gujarat Electricity Regulatory Commission (GERC). GERC is the state regulatory body responsible for overseeing the electricity sector in Gujarat, including the approval of power purchase agreements to safeguard consumer interests and ensure a stable energy supply. The company aims to scale its overall renewable energy capacity to 10 GW by 2030, and this 150 MW wind power project represents a key step towards achieving that ambitious target.
Business Standard
2 days ago
- Business
- Business Standard
KPI Green Energy receives LoI from Gujarat Urja Vikas Nigam
For development of 150 MW wind power projects KPI Green Energy has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for the development of 150 MW grid connected Wind Power Projects. The Power Purchase Agreement (PPA) with GUVNL shall be executed upon obtaining the requisite approval from the Gujarat Electricity Regulatory Commission (GERC). The above LOI has been awarded pursuant to the Company's participation in the competitive bidding process initiated by GUVNL under Procurement of power through competitive bidding process vide RfS No. GUVNL / 250 MW / Wind (Phase IX), issued on January 18, 2025. This was followed by a reverse e-auction held on April 22, 2025. The tender was for the development of 250 MW Grid Connected Wind Power Projects, with Greenshoe option of additional capacity up to 250 MW. The Company emerged as the successful bidder in the tender, securing a capacity allocation of 150 MW under the project.
Business Standard
2 days ago
- Business
- Business Standard
KPI Green gains on securing LoI from GUVNL for 150 MW wind power project
KPI Green Energy added 3.31% to Rs 544.95 after the company has received the letter of intent (LoI) from Gujarat Urja Vikas Nigam (GUVNL) for the development of 150 MW gridconnected wind power projects. The power purchase agreement (PPA) with GUVNL shall be executed upon obtaining the requisite approval from the Gujarat Electricity Regulatory Commission (GERC). The company will execute the project in accordance with the terms and conditions outlined in RFS No. GUVNL/250 MW/Wind (Phase IX), issued by GUVNL on 18 January 2025, it added. The company confirmed that none of the promoter, promoter group, or group companies has any interest in the entity that awarded the order. It further stated that the order does not fall under related party transactions. KPI Green Energy develops, builds, owns, operates, and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name of 'Solarism.'
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Business Standard
2 days ago
- Business
- Business Standard
KPI Green Energy shares jump 5% in trade; what's driving investor interest?
KPI Green Energy shares advanced 4.7 per cent on Tuesday, registering an intraday high at ₹552.55 per share. At 11:31 AM, KPI Green Energy share price was trading higher by 2.13 per cent at ₹732 per share on the BSE. In comparison, the BSE Sensex was up 0.49 per cent at 82,654.58. The company's market capitalisation stood at ₹10,715.62 crore. The 52-week high of the stock was at ₹744.37 per share and the 52-week low of the stock was at ₹312.95 per share. FOLLOW STOCK MARKET LATEST UPDATES LIVE Why were KPI Green shares buzzing in trade? The northward movement in the stock came after the company received a letter of intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL). The order is to develop 150 MW grid connected Wind Power Projects. "We are pleased to inform you that KPI Green Energy Limited has received the Letter of Intent (LOI) bearing reference no. GUVNL/RE/Wind/1034 dated July 14, 2025, from Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of 150 MW grid connected Wind Power Projects," the filing read. A Power Purchase Agreement (PPA) with GUVNL shall be executed upon obtaining the requisite approval from the Gujarat Electricity Regulatory Commission (GERC), according to the filing. The LoI was received after the company participated in the competitive bidding process initiated by GUVNL under 'Procurement of power through competitive bidding process vide RfS No. GUVNL / 250 MW / Wind (Phase IX)." In another development, recently, the Ministry of Corporate Affairs approved the incorporation of a Special Purpose Vehicle (SPV) named KPIN Clean Power Four LLP. The main objective of the SPV is to generate, develop, transform, distribute, transmit, sell, and supply any kind of power or electrical energy using wind energy, solar energy, or other renewable sources of energy. KPI Green Energy contributed ₹99,000, while ₹1,000 was contributed by KPark Sunbeat Private Limited, a subsidiary of the company in the whole process. In Q4, KPI Green Energy's net profit more than doubled to ₹104.18 crore in the quarter ended March 31, 2025, as compared to ₹43.04 crore in the January-March period of the preceding 2023-24 financial year. The company increased its revenues to ₹577.80 crore in the period under review, from ₹292.96 crore in the year-ago quarter.
