2,400 per cent returns and FIIs increase stake: This multibagger solar power stock bags an 86.1 MW order for a hybrid renewable energy project!
Shares of the company gained more than 100 per cent in the last six months.
KP Energy has landed a significant contract from ABREL EPC Limited, an Aditya Birla group company, for developing the 86.1 MW wind portion of a hybrid renewable energy project. This project, combining wind and solar power, will connect to an existing 140 MW facility and contribute to India's clean energy goals.
KP Energy's scope includes engineering, procurement, construction, and commissioning (EPCC) services for the wind component. This encompasses tasks like land acquisition, design, equipment supply, installation, testing, and securing necessary approvals.
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While specific financial details haven't been disclosed, the project's size speaks volumes, with an 86.1 MW wind capacity marking a major win for KP Energy. Furthermore, the collaboration with a renowned group like Aditya Birla strengthens their position in the renewable energy sector.
Expected completion is within the current financial year, highlighting KP Energy's commitment to swift execution. This project further cements their role in advancing India's renewable energy transition.
KP Energy Limited is a balance of plant solution provider for the Wind Energy industry. The company engages throughout the development process of wind farms, right from conceptualization until the commissioning of the project. The company has also delivered multibagger returns of over 2,400 per cent in the last three years. FIIs increased their stake in the company in September 2023 respectively.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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