KP Energy share: Energy sector giant KP Energy Ltd has received a big order from Gujarat. In fact, Gujarat Urja Vikas Nigam Limited (GUVNL) has given an order for a new green energy project of about 1,000 MW capacity.
After the news, the market was in a frenzy for stocks of KP Energy Limited. On Wednesday, the third day of the week, the stock jumped by 4.71% (5%) and hit an upper circuit.
What Did The Company Say?
KP Energy Ltd informed the stock market that it would develop the projects following the definitive agreements to be mutually agreed upon and executed between the two parties.
However, it did not give any information regarding its financial details. KP Energy Ltd said the total size of the project is 1003.7 MW.
The company will be accountable for supplying various services, such as engineering procurement, construction as well as commissioning (EPCC) in connection with the project.
Order In September
In September, KP Energy Ltd got the contract for a 30 MW wind energy project in Gujarat. Under this, the company will supply electricity to Gujarat Urja Vikas Nigam Limited (GUVNL) under the terms of the Power Purchase Agreement (PPA).
The project’s implementation will increase the company’s existing IPP (Independent Power Generation) capacity by about 50 MW.
KP Energy Limited is a prominent company in India’s renewable energy sector with a focus on complete solar and wind solutions.
With an extensive presence in Gujarat and the state of Gujarat, its most important projects include a 300 MW plant in Kutch a 250.8 MW facility in Dwarka, and a 10.5 MW facility located in Devbhoomi Dwarka.
Stock Performance
The share of KP Energy Ltd rose 5 percent in intraday trading on Tuesday; with this, the stock hit an upper circuit.
During trading, the stock price reached a record level of Rs 636.40 per share. It is also the 52-week peak of the stock.
Quick Fact
| Company name | KP Energy |
|---|---|
| Stock price | ₹ 635 |
| The stock gained | 4.71% |
| Order from | Gujarat Urja Vikas Nigam (GUVNL) |
| New project size | 1,003.7 MW |
| Project location | Gujarat |
| Services | Engineering, Procurement, Construction, and Commissioning (EPCC) |
| Previous order (September) | 30 MW wind energy project |
| Power supply to | Gujarat Urja Vikas Nigam (GUVNL) |
| PPA terms | Power Purchase Agreement |
| Increase in IPP capacity | Possible 50 MW |
| Key project locations | Kutch, Dwarka, Devbhoomi Dwarka |
| Major projects | 300 MW (Kutch), 250.8 MW (Dwarka), 10.5 MW (Devbhoomi Dwarka) |
| Industry focus | Renewable energy, Solar, and Wind solutions |
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