Sun Drops Energia, a subsidiary of KPI Green Energy, has received Letters of Award and Intent to develop solar power projects with a total capacity of 36.87 megawatts. These projects fall under the Captive Power Producer (CPP) business segment of the company.
The solar projects are scheduled to be completed in phases during FY26, as per the terms outlined in the orders.
Projects under Gujarat’s green energy drive
Some of these solar projects will be developed under the Distributed Renewable Energy Bilateral Purchase (DREBP) Policy. This policy is part of the Gujarat Renewable Energy Policy-2023.
The orders have been awarded by various domestic clients working with KPI Green’s CPP segment. There is no involvement of any international entity or related party in this deal.
No promoter interest involved
The company clarified that its promoter group does not have any interest in the entities awarding these orders, and the projects do not fall under related party transactions.
KPI Green Energy Q4 performance
The company clocked net profit of Rs 99.4 crore in Q4FY25 Vs Rs xxx in Q4FY24. The growth in profitability was led by strong topline growth during the quarter.
Revenue for the period nearly doubled for KPI Green, in comparison to the year-ago quarter, rising 97% to Rs 569.4 crore on Q4FY25 Vs Rs ccc Q4FY24.
The share price of KPI Green is Rs 469.60 today and it has slipped over 21% in the last 1 year.