Hot Pursuit     28-Sep-23
KP Energy gains on commissioning 10.5 MW wind power project in Gujrat
KP Energy advanced 2.84% to Rs 526.75 after the company said that it has commissioned the 10.5 MW (Phase-V) ISTS-connected wind power project at Sidhpur site in Gujarat's Dwarka for Apraava Energy.

In an exchange filing, the company stated that it has successfully commissioned further 10.5MW (Phase-V) ISTS connected wind power project comprising 5 numbers of WTGs of 2.1MW each at Sidhpur site in Devbhoomi Dwarka.

This Phase-V commissioning is a part of the 250.8 MW ISTS connected wind power project capacity awarded to Apraava Energy by Solar Energy Corporation of India (SECI) under Tranche-VIII bidding.

KP Energy is developing the project for Apraava Energy as a contractor under the land and balance of plant contract, it added.

With the present Phase-V commissioning the net cumulative capacity commissioned at Sidhpur site stood at 138.6 MW against the awarded capacity 250.8 MW.

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's consolidated net profit surged 52.7% to Rs 15.24 crore in Q1 FY24 from Rs 9.98 crore recorded in Q1 FY23. Net sales declined 9.4% year on year to Rs 112.99 crore during the quarter.

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