KPI Green Energy share prices hit a fresh 52-week high on Wednesday after the Surat-based solar energy company announced that its subsidiary won an order of 5 megawatts for a solar power project.

KPI Green Energy’s shares were locked at an upper circuit of 10% in the noon trading hours. The stock closed at Rs 1,821.10, 10% higher than its last closing price on the National Stock Exchange (NSE).  

According to an exchange filing dated January 30, KPIG Energia Private Limited, a wholly-owned subsidiary of the company, received an order to execute a 5 MW solar power project from Skywin Paper Industries Private Limited under the ‘Captive Power Producer (CPP)’ Segment. 

As per the terms of the order, the project is scheduled to be completed in various tranches in the financial year 2024-25.

Incorporated in February 2008, KPI Green Energy is a Gujarat-based solar and hybrid power generating company that develops, builds, owns, operates and maintains solar and hybrid power plants.

The company builds and manages solar power projects as an independent power producer and captive power producer under the “Solarism” brand.