KPI Green gains on receiving commissioning certificate from GEDA for 31 MWdc solar project

KPI Green Energy rallied 4.33% to Rs 445.95 after the company received the commissioning certificate from Gujarat Energy Development Agency (GEDA) for capacity of 31 MWdc solar power project under its Captive Power Producer (CPP) segment.

The power from the said solar project would be supplied to Creative Technologies (5 MWdc), Colourtex Industries (5 MWdc) and Aether Industries (16 MWdc).

KPI Green Energy (formerly known as K.P.I. Global Infrastructure) generates and sells solar power under 'Solarism' brand name in India. It develops, builds, owns, operates, and maintains solar power plants as an independent power producer and captive power producer.

The company's consolidated net profit stood at Rs 34.46 crore in Q3 FY23, steeply higher than Rs 13.14 crore in recorded Q3 FY22. Net sales surged 188.1% year on year to Rs 179.21 crore in Q3 FY23.

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