KPI Green Energy Secures CEIG Nod For 12.72 MW Wind-Solar Hybrid Power Project

KPI Green Energy Ltd. has received approval for its 12.72 MW of wind-solar hybrid power project under its captive power producer business segment from the Chief Electrical Inspector. These projects were executed for KPI Green Energy Ltd. and its wholly owned subsidiary, Sun Drops Energia, according to a regulatory filing.

Furthermore, the approval from the Chief Electrical Inspector has been received in the names of the respective clients.

The KPI Green Energy on Aug. 26 said it has received letters of intent for executing solar power projects with a cumulative capacity of 13.30 MW under the captive power producer business segment of the company.

Shares of the company rose as much as 1.58% before erasing gains to trade 1.47% lower at Rs 872.90 apiece, compared to a 1.19% decline in the NSE Nifty 50 as of 3:10 p.m.

The stock has risen 83.32% year-to-date and 206.80% in the last 12 months. The relative strength index was at 39.76.

The one analyst tracking the company has a 'buy' rating, according to Bloomberg data.