KPI Green Energy shares surge over 4.5% on signing of MoUs for 1.8 GW renewable energy projects; see details

Shares of KPI Green Energy surged over 4.5% on Thursday, February 27, after the company announced signing of preliminary agreements for 1.8 GW renewable energy projects with the Madhya Pradesh government.

The stock opened on a positive note and hit a high of ₹416 per share, up 4.6% on the NSE in early deals. However, the stock pared its early gains and traded at ₹398.5 per share, up 0.2% at 11:10 am on the NSE.

The company informed the stock exchanges that it has signed a memorandum of understanding (MoU) with the Madhya Pradesh government for setting up various solar, wind, hybrid, BESS and biomass-based projects with a total capacity of 1.8 GW in the state.

The MoU was signed with the state’s new and renewable energy department at the Global Summit-2025 held in Bhopal on February 24. “This partnership underlines our commitment towards sustainable energy solutions and is aligned with national and state-level renewable energy targets,” KPI Greens told stock exchanges.

Currently, at the overall group level, KP Group has a portfolio of 5.2 GW, with 1.4 GW already commissioned and an order book of over 3.8 GW. The group aims to achieve a total capacity of 10 GW by 2030. Its expertise spans end-to-end EPC services, O&M capabilities and RESCO models.

KPI Green Energy Ltd, wind energy solutions provider KP Energy Ltd and KP Green Engineering Ltd are among the group entities. Solar power solutions provider KPI Green Energy Ltd has an installed capacity of 533 MW, supported by an order book of 2,869 MW (2.86 GW). The company recently told analysts that its flagship project, a 240 MW DC solar project at Khavda in Gujarat, is progressing ahead of schedule.

In the December quarter, KPI Energy Green Ltd secured key contracts for a 300 MW AC ground-mounted solar PV project with Coal India Ltd. The company reported total income of Rs 466.1 crore for the December quarter as against Rs 331.33 crore in the same period a year ago. Its profit after tax rose to Rs 85.15 crore in Q3FY25 from Rs 50.61 crore in the same period last fiscal.