The shares of KPI Green Energy have risen by 5% after its subsidiary won a solar power project. On 16 February, during the early trading hours, KPI Green Energy’s share price witnessed a significant increase and hit a 5% upper circuit.

In the company’s exchange filing, it informed that its wholly-owned subsidiary KPIG Energia Private Limited had received a new order of 1.5 Megawatt (MW) for executing a solar power project under the ‘Captive Power Producer (CPP)’ Segment from Pruthvi Textile. The project is estimated to be completed within the financial year 2024-25, significantly enhancing the company’s renewable energy portfolio.

In January 2024, KPIG Energia Private Limited received new orders of 5.60 MW and 5 MW from Shree Varudi Paper Mill LLP and Skywin Paper Industries Private Limited, respectively. The subsidiary also received an order for a 15 MW solar power project from Aether Industries earlier in February.

The third quarter in the financial year ending 31 March 2024 earnings report indicates a consolidated profit after tax (PAT) of Rs 50.60 crore, which is a significant increase from Rs 34.46 crore in the same quarter in FY23.

At 3:30 pm, the shares of KPI Green Energy closed 5% higher at Rs 1,475.60 on NSE.