KPI Green Energy shares hit a day high of Rs 373.50 on 29 September after it bagged a Rs 2,025 crore solar power project order in Rajasthan.

The order comes from NACOF Oorja Private Limited, a subsidiary of NACOF.

The job is a turnkey EPC contract. EPC means engineering, procurement and construction, so KPI Green will handle the project from the first design to the day it starts running.

The plant will have a capacity of 500 MW (550 MWp). It will sit at Village Dantoor in Khajuwala tehsil, Bikaner district.

The plant is one part of a larger 5,000 MW solar park that NACOF Oorja is building there. KPI Green will design the plant, buy and supply the equipment, install it, test it and commission it.

The work covers civil construction, solar panels, mounting structures, inverters and transformers, along with switchgear, a 33 kV power line and monitoring systems.

The company has 12 months from the handover of the site to finish. NACOF Oorja is a domestic buyer.

KPI Green said its promoters, promoter group and group companies have no interest in it, so the deal is not a related party transaction.

Earlier this year, NTPC Renewable Energy Limited awarded KPI Green a separate 500 MW (550 MWp) solar package at Bikaner.

That one covered the supporting systems around the panels, known as balance of system work.

The company said the new order adds to its EPC order book and gives it revenue visibility over the coming year.

For the April to June quarter, KPI Green reported total revenue of Rs 709.82 crore and a net profit of Rs 94.63 crore.

On NSE on 29 September, the stock opened at Rs 356.00, touched a high of Rs 373.50 and a low of Rs 351.50. It closed at Rs 371.25, up Rs 13.90 or 3.89% from the previous close of Rs 357.35.

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