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KPI Green Energy

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KPI Green Energy Limited
Company typePublic
NSE: KPIGREEN
BSE: 542323
IndustryRenewable energy
Founded2008
FounderFaruk G Patel
HeadquartersSurat, India
Area served
India
ParentKP Group
Websitewww.kpigreenenergy.com

KPI Green Energy Limited (formerly K.P.I. Global Infrastructure Ltd) is a solar power company based in Surat, Gujarat.[1] Established in 2008, it is part of the KP Group.[2] The company generates and supplies electricity from solar power projects under the brand name Solarism.[3][4][5]

History

[edit]

The company was incorporated in 2008 as KPI Global Infrastructure Limited.[6] Before entering the solar power generation space,[7] It was involved in selling land parcels to third parties.[8] In 2013, the company received a feasibility study from Gujarat Energy Transmission Corporation (GETCO) for connecting its Solarism Plant in Sudi, Bharuch district, Gujarat, to GETCO’s Amod Substation.[9] In 2014, construction began on a 13.25 km 66 KV transmission line to enable power transfer from the Solarism Plant to the Amod Substation.[10][11]

By 2016, the company had completed the first phase of its Sudi solar power plant, with a capacity of 5 MW, located on leased land at the Solarism Plant. This project operated under the Independent Power Producer (IPP) vertical, utilizing the Third Party Sale option of the Gujarat Solar Power Policy 2015.[12] The company started selling the power generated through bilateral Power Purchase Agreements (PPAs).[13] In 2017, an additional solar power plant for 10 MW was installed  at the Solarism Plant.[10][14]

In May 2024, the company announced to raise up to ₹1,000 crore through a Qualified Institutions Placement (QIP).[15][16][17]

Partnerships and collaborations

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By 2022, KPI Green Energy had secured agreements for 15.88 MW of wind-solar hybrid power with six companies[18][19] and sold 7.50 MWp of solar power to Tata Motors Passenger Vehicles.[20][21] Its subsidiary, Sun Drops Energia,  launched a 2.10 MW Wind-Solar Hybrid Power Project.[22][23] In October 2023, KPI Green acquired a majority stake in KPark Sunbeat for Rs 1.26 billion.[24][25][26] It also signed an MoU with Mahatma Phule Renewable Energy and Infrastructure Technology Limited for collaboration on renewable energy projects.[27][28] Additionally, in partnership with Advait Infratech Limited, KPI Green agreed to establish a 500 MW solar park with the Government of Uttarakhand.[29] KP Group collaborated with Tristar Transport LLC from the UAE to explore global eco-friendly energy solutions.[30][31]

In 2018, bilateral Power Purchase Agreements (PPAs) were signed with Mafatlal Industries Limited, Best Paper Mills, and Meghmani Organics for the direct sale of solar power generated at the Solarism Plant.[32] In 2019, the company received approval from the Gujarat Energy Transmission Corporation to increase the evacuation capacity of solar power from 30 MW to 70 MW at the 66 KV Amod Substation in Bharuch district, Gujarat.[33] In 2020, the company changed its name to KPI Green Energy Limited.[3]

In March 2024, KPI signed a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 200 MW grid-connected Solar Photovoltaic Power Project.[34]

Awards

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  • Excellence In Solar Park Award - 2016 from Mission Energy Foundation Mumbai[35]

References

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  1. ^ "KPI Green surges 9% ahead of bonus issue; zooms 260% in 9 months". www.fortuneindia.com. 2023-12-11.
  2. ^ "KP Energy Wants A Slice Of India's Ambitious Renewables Energy Pie". Forbes India. Retrieved 2024-10-08.
  3. ^ a b Deva, Pranati (2024-05-27). "Multibagger! KPI Green Energy zooms over 24400% in 4 years". mint.
  4. ^ Kumar, Nishant (2024-04-18). "KPI Green share price skyrockets over 450% in 1 year; what should you do?". mint.
  5. ^ "Green Energy Companies Bet Big on India's Net Zero Targets; KP Group Chief Weighs In Amid India's Rising Footprint Globally". Times Now. 11 July 2024.
  6. ^ "KPI Global Infrastructure adds new capacity of 2.2 MW at solar power plant at Bharuch". Construction Week India. 2020-06-25.
  7. ^ "KPI Green gains on bagging order for solar power project". Business Standard.
  8. ^ "KPI Green Energy gets commissioning certificate for 5.4 MW CPP solar plant, shares surge". CNBCTV18. 2022-11-21.
  9. ^ Gupta, Uma (2019-07-04). "KPI Global gets GETCO nod to enhance solar power evacuation". pv magazine India.
  10. ^ a b "Latest KPI Green Energy Ltd management information at www.indiainfoline.com". indiainfoline.com.
  11. ^ "1:2 Stock Split Soon After Bonus Issue; Green Energy Stock Hits Back To Back 5% Lower Circuits; Do You Own?". Goodreturns.in. June 5, 2024.
  12. ^ www.ETEnergyworld.com. "KPI Green Energy net profit rises to Rs 50 cr in Q3 - ET EnergyWorld". ETEnergyworld.com.
  13. ^ "K.P.I. Global commissions 5.44 MW solar power plant in Gujarat". Business Standard.
  14. ^ Chikkodi, Ashwini (2022-06-28). "KPI Green Energy Completes Installation Of 10 MWp". SolarQuarter.
  15. ^ "KPI Green Energy Board approves raising up to ₹1,000 crore via QIP - CNBC TV18". CNBCTV18. 2024-05-13. Retrieved 2024-10-08.
  16. ^ "KPI Green Energy board okays plan to raise up to Rs 1,000 cr". The Economic Times. 2024-05-14. ISSN 0013-0389. Retrieved 2024-10-08.
  17. ^ "Patel Redefines KPI's Green Agenda". www.fortuneindia.com. 3 October 2024.
  18. ^ "KPI Green Energy inks PPAs with 6 firms to supply green power". BusinessLine. 2022-09-14.
  19. ^ www.ETEnergyworld.com. "KPI Green Energy secures 74.3 MW solar projects - ET EnergyWorld". ETEnergyworld.com.
  20. ^ "KPI Green inks Power Purchase Agreement to sell solar power to Tata Motors unit". CNBCTV18. 2022-12-16.
  21. ^ Das, Vipul (2023-01-15). "This power stock to turn ex-bonus this week, scrip is 131% up from 52-week-low". mint.
  22. ^ "KPI Green Energy shares hit 52-week high; here's why". www.fortuneindia.com. 2023-11-02.
  23. ^ "KPI Green Energy up 6% as subsidiary bags solar power projects". Money Control.
  24. ^ "KPI Green Energy raises $36 mn in QIP, expands RE projects capital base". www.constructionworld.in.
  25. ^ "KPI Green To Acquire Majority Stake in Solar Developer KPark Sunbeat for ₹1.26 Billion - Mercom India". Mercomindia.com.
  26. ^ Gupta, Mohan (2023-10-12). "KPI Green Energy Set To Acquire Majority Stake in KPark Sunbeat". SolarQuarter.
  27. ^ "KPI Green Energy to work with Maharashtra government undertaking on renewable energy projects - CNBC TV18". CNBCTV18. 2023-08-16.
  28. ^ "KPI Green Energy shares gain on deal to develop green power projects". Money control.
  29. ^ "KPI Green Energy, Advait Infratech Collaborate on 500-MW Solar Park in Northern India". Energetica India Magazine.
  30. ^ "KP Group and UAE's Tristar partner on renewable energy projects". pv magazine India. 2023-04-13.
  31. ^ "KPI Green to develop green energy solutions with UAE-based Tristar Transport - CNBC TV18". CNBCTV18. 2023-04-13.
  32. ^ "KPI Green Energy signs Power Purchase Agreements with three clients for solar power sale". CNBCTV18. 2023-01-16.
  33. ^ "Company news: KPI Global Infrastructure". BusinessLine. 2019-07-04.
  34. ^ "KPI Green signs power purchase agreement for 200 MWAC grid connected Solar Photovoltaic Power Project - CNBC TV18". CNBCTV18. 2024-03-02.
  35. ^ "Latest KPI Green Energy Ltd management information at www.indiainfoline.com". indiainfoline.com.
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