KPI Green Energy Limited has officially announced the signing of a contract with Coal India Limited to develop a 300 MW AC grid-connected solar PV plant in Gujarat’s Khavda region. The project, valued at ₹1,311.40 crore, will be set up at GIPCL’s Solar Park and includes five years of operation and maintenance services.
The stock of KPI Green Energy Limited saw a rise of 5 per cent on the NSE today, trading at ₹349.85, up by ₹16.65, hitting its upper band.
The agreement follows the company’s earlier communications to stock exchanges in late November and early December 2024. The project is expected to be completed by November 2025.
This ground-mounted solar installation marks a significant progress in Coal India’s transition towards renewable energy. For KPI Green Energy, the project is in line with its goal of achieving a 10 GW capacity by 2030.
The project showcases the ongoing shift in India’s energy sector, with traditional fossil fuel companies like Coal India increasingly investing in renewable energy infrastructure.
The article was published on January 30, 2025.
