KPI Green Energy Ltd has won contracts for solar power projects totalling 32.15 MW. The company received Letters of Award (LoAs) through its subsidiary, Sun Drops Energia Private Limited. The projects will be developed under the Captive Power Producer (CPP) business segment.
Expanding Green Energy Infrastructure
KPI Green Energy continues to expand its presence in India's renewable energy sector. The company will complete these solar projects in phases during the financial year 2025-26. The projects will support various industrial clients, reducing their reliance on conventional power sources.
Several domestic entities awarded contracts to Sun Drops Energia. The clients include Aditya Ultra Steel Pvt. Ltd., Suraj Dyeing & Printing Ltd., Sunita Processors Pvt. Ltd., Balaji Polyester Pvt. Ltd. and Citizen Metalalloys Ltd. Other companies involved in the project are Suez Internationals, Vintage Tiles, Siddheswari Textiles, P.D. & Sons, Hayat Enterprise, Meghdoot Leisure LLP and Devang Paper Mill.
KPI Green Energy has ensured full compliance with regulatory norms. The company clarified that promoters, promoter groups and related entities have no financial interest in these contracts. The agreements follow arm’s length principles, ensuring transparency in business dealings.
KPI Green Energy’s Financial Performance and Growth
KPI Green Energy has seen substantial financial growth. In Q2 FY25, the company’s net profit increased by 101.2%, reaching Rs 69.93 crore. Revenue from operations surged by 67.2%, totalling Rs 359.68 crore. This growth reflects the company's strong execution capabilities and demand for solar power solutions.
The company operates and maintains grid-connected solar power projects. It sells electricity from its solar plants to captive and third-party consumers. KPI Green Energy currently has an operational capacity of 110 MW under the independent power producer (IPP) model. It has also developed hybrid projects with a capacity of 36.2 MW in Gujarat’s Bhavnagar and Bharuch districts.
At a group level, KPI Energy has installed IPP capacities of 156 MW. The company has commissioned over 287 MW of captive solar power projects as of June 2024. It is also developing a capacity of 1.2 GW, including newly awarded utility-scale projects.
Future Prospects for KPI Green Energy
KPI Energy is playing a crucial role in India’s transition to renewable energy. The 32.15 MW solar power projects will help industries reduce their carbon footprint. The company’s continued expansion strengthens its position in the market.
As India pushes for more green energy solutions, KPI Green Energy remains committed to driving sustainable development. With a strong pipeline of projects and financial growth, the company is well-positioned for future success in the renewable energy sector.