Solar Power Company Signs Power Purchase Agreements With Gujarat Urja Vikas Nigam Ltd For Renewable Energy Projects

The stock gave multibagger returns of 180 per cent in just 1 year and a whopping 9,800 per cent in 5 years.

KPI Green Energy Limited has successfully signed Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL) for 620MWAC (917MWDC) renewable energy projects as mentioned below:

1. 250 MWAC (275MWDC) grid-connected Solar Photovoltaic Power Project won through a competitive bidding process vide RFS No. GUVNL / 500 MW / Solar (Phase-XXIV) dated March 15, 2024, issued by GUVNL for Procurement of Power from 500 MW grid-connected Solar Photovoltaic Power projects located anywhere in India with Greenshoe option of additional capacity up to 500MW without energy storage.
2. 370 MWAC (642MWDC) grid-connected Hybrid RE Power Project won through a competitive bidding process vide RFS No. GUVNL / 500 MW / Hybrid RE (Phase-II) dated February 14, 2024, issued by GUVNL for procurement of power through a competitive bidding process (followed by reverse e-auction) from 500 MW Hybrid RE project (Phase - II) with Greenshoe option of additional capacity up to 500MW without energy storage.

The company is contributing to the nation’s transition to environment-friendly and sustainable renewable energy, reinforcing and accelerating its commitment to achieve our ambitious target of 10 GW capacity by 2030.

KPI Green Energy Ltd, established in 2008 as part of the KP Group, is a renewable energy leader specializing in solar power generation. They operate under the "Solarism" brand, offering a comprehensive solution for both Independent Power Producers (IPPs) and Captive Power Producers (CPPs). Their services include developing, building, owning, managing, and maintaining solar power plants across Gujarat, with a current installed capacity exceeding 445 MW. They cater to IPPs by directly generating and selling solar electricity, while also providing Engineering, Procurement, and Construction (EPC) services to CPP clients who wish to set up their solar power facilities.

The company shares underwent a stock split and bonus issue. The existing equity shares of Rs 10 each were subdivided into 2 equity shares of Rs 5 each on July 18, 2024 (ex-date). Additionally, bonus equity shares were issued in a 1:2 ratio on February 15, 2024 (ex-date), with the new shares ranking equally with the existing ones. The stock’s 52-week high is Rs 1,116 and its 52-week low is Rs 258.95. The company's shares have an ROE of 30 per cent and an ROCE of 22 per cent.

In August 2024, FIIs bought a 6.35 per cent stake and DIIs bought a 1.21 per cent stake and increased their stake to 12.40 per cent and 1.54 per cent respectively, compared to 6.05 per cent and 0.33 per cent respectively in June 2024. The company has a market cap of over Rs 10,000 crore with a strong order book. The stock gave multibagger returns of 180 per cent in just 1 year and a whopping 9,800 per cent in 5 years. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.