According to reports from CNBC TV18, K.P. Energy announced on Tuesday, September 8, that it has received a Letter of Intent (LOI) from Emmvee Energy Private Limited to establish a 42 MW wind-solar hybrid power project in Karnataka under the group captive route. The proposed project comprises 21 MW of wind capacity and 21 MWp of solar capacity, specifically designed to meet the captive power requirements of Emmvee Energy's manufacturing facilities in Karnataka.
As reported by CNBC TV18, this project marks K.P. Energy's first order in Karnataka and represents its geographical expansion beyond its core markets. The company stated that the development strengthens its presence in the commercial and industrial (C&I) and group captive segment. The LOI has been awarded by a domestic entity, with the execution timeline to be determined under the mutually agreed upon schedule in the definitive agreement.
According to CNBC TV18, K.P. Energy Ltd shares closed at ₹235.70 on September 8, down 2.54% or ₹6.15 from the previous close. The stock movement occurred alongside the announcement of the new project award.
As reported by CNBC TV18, on July 8, the firm had informed that it successfully developed and commissioned the first part capacity of 50.4 MW of a wind power project for NTPC Renewable Energy Limited at Vanki site in Nakhatrana, Kutch, Gujarat. Earlier on March 27, the company had received a Letter of Award (LoA) from JK Paper Ltd for the development of a 91.4 MW wind-solar hybrid power project in Gujarat, which will be executed on a complete turnkey basis covering engineering, procurement, installation, and commissioning.
