Hot Pursuit     22-Sep-22
KP Energy hits the roof on bagging order for development of 8.1 MW hybrid power project in Gujarat
KP Energy hit an upper circuit of 5% at Rs 435.15 after the company announced that it has secured an order for development of 8.1 megawatt (MW) hybrid power project (comprising of 8.1 MW wind capacity and 6 MW solar capacity) in Gujarat.

In an exchange filing, the company said that it received an order for development of 8.1 MW hybrid power project (comprising of 8.1 MW wind capacity and 6 MW solar capacity) in state of Gujarat for its captive customer Haq Steel and Metaliks. The project is scheduled for commissioning under the Gujarat Hybrid Power Policy, 2018, it added.

The company said that it offered turnkey Balance of Plant (BoP) solution best suitable to the captive customer for its hybrid power project for both wind and solar project capacity.

K.P. Energy is primarily engaged in development of Balance of Plant of wind power projects and allied services related to it along with generation of electricity through its own wind power generating assets and operation and maintenance services of BoP of wind power projects primarily in India.

The company reported a consolidated net profit of Rs 9.98 crore in Q1 FY23, steeply higher than Rs 1.41 crore posted in Q1 FY22. Net sales surged to Rs 124.76 crore in the first quarter as against Rs 20.26 crore recorded in the corresponding quarter last year.

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