KPI Green’s shares increased by 4% following a power purchase agreement

Power purchase agreement at Jamnagar airport

KPI Green Energy is a leader in solar energy and other commercial businesses in Gujarat.

kpi power purchase

It earns revenue by supplying the electricity produced by its solar power plants to popular commercial buildings through power purchase agreements. tail tail As of 9:34 am, the company’s shares were trading down 3.9% at 449.9 rupees on the BSE.

KPI Green Energy has signed a 20-year hybrid power purchase agreement for a capacity of 1.845 MWAc with the Garrison Engineer, Army Engineering Services, Airport, Jamnagar, under the Independent Power Producer (IPP) category. The company’s revenue in the third quarter was Rs 179.21 crore compared to Rs 62.20 crore last year. Profit after tax reached Rs 34.46 crore in the quarter from Rs 13.14 crore a year ago. KPI Green Energy is the third largest solar energy market leader in Gujarat. The company develops and maintains grid-connected IPP solar power projects under the “Solarism” brand. It earns revenue by supplying the electricity produced by our solar power plants to reputable companies through power purchase agreements.

Solarism’s facilities are located at 17 sites in Bharuch district, Gujarat. It has also laid 66 KV and 11 transmission lines for offloading the solar power generated by the solar power plant at the Gujarat Energy Transmission Corp station near its solar power plant.

After the government announced the hybrid electricity policy along with the subsidy pricing rules from the Gujarat Electricity Regulatory Commission. “We have already started to set up, own and operate renewable energy plants, adding the same to our portfolio of power generation assets, to produce electricity and sell it to our customer companies,” the company said. and his new business partner. display.

Also, in the recent Union Budget, the government announced various measures to support India’s ongoing economic transition to a green energy economy. Finance Minister Nirmala Sitharaman has announced a budget allocation of Rs 10,222 crore to the Ministry of New and Renewable Energy, a 45% increase from the Rs 7,033 crore expected to be spent this year. The Green Energy KPI appears to benefit from the government’s focus on transitioning to clean energy.

Also Read: Bank of Baroda’s share increased the lender’s decision

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