According to reports from CNBC TV18 and ETEnergyworld, KP Energy Ltd announced on Friday, March 27, that it has 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. The project will be executed on a complete turnkey basis, covering engineering, procurement, installation, and commissioning. The scope of work includes development of evacuation infrastructure for grid connectivity, securing statutory and regulatory clearances, and providing operation and maintenance services for the balance of plant of the wind component and the entire solar capacity. As per ETEnergyworld, the project will be executed in accordance with the timeline specified in the Letter of Award.
As reported by CNBC TV18 and ETEnergyworld, the company stated that the order underscores its execution capabilities in integrated renewable energy projects and strengthens its position in the wind-solar hybrid segment. The company emphasized that the award reflects its established execution capabilities in delivering integrated wind-solar hybrid projects and further strengthens its positioning in the renewable energy space, with enhanced execution visibility going forward. The project is expected to improve visibility on future project execution and aligns with the company's strategic focus on diversified renewable energy solutions.
According to CNBC TV18, earlier on February 25, KP Energy had received a Letter of Award from Enerparc Energy Pvt Ltd for a 40.8 MW wind-solar hybrid power project in Gujarat. The previous project comprised around 20.2 MW of wind capacity and 20.6 MWp of solar capacity. In a separate development, KP Group informed on March 24 that it has crossed 1 GW of energised Independent Power Producer (IPP) capacity, out of a total portfolio of 2.3 GW, marking a major development in its long-term growth strategy focused on IPP development.
As reported by CNBC TV18 and ETEnergyworld, shares of KP Energy Ltd were down 4.87% at ₹262 apiece on the BSE at 2:58 pm on Friday. The stock decline occurred despite the positive project announcement, indicating market reaction to other factors or broader market conditions rather than the specific renewable energy project news. The latest trading data shows continued pressure on the stock price following the project announcement.
