KPI Green Energy shares rallied over 6% to an intraday high of ₹469.35 on Tuesday, January 13, after the power generation firm entered into a Memorandum of Understanding (MoU) with the Government of Gujarat for renewable energy projects worth ₹4,000 crore. The MoU was signed on January 12, 2026, at Marwadi University, Rajkot, as part of the Vibrant Gujarat Regional Conference. Under the agreement, KP Group proposes to establish renewable energy projects with an aggregate capacity of approximately 855 MW, comprising solar power projects and ISTS-connected wind–solar hybrid power projects across multiple locations in Gujarat, including Devbhumi Dwarka and Kutch (Bhuj).
The proposed projects include a 200 MW (DC) solar power project to be developed under the DREBP scheme and captive user segment, along with a 405 MW standalone solar power project. Additionally, the MoU covers two ISTS-connected wind–solar hybrid power projects—one with a capacity of 100 MW and another of 150 MW—both to be connected through the Central Transmission Utility (CTU). The total proposed investment is approximately ₹4,000 crore, with an estimated employment generation of over 4,000 jobs. As per Upstox, the proposed projects are expected to be implemented in a phased manner, subject to receipt of applicable statutory approvals and clearances.
The Gujarat government will facilitate KP Group in obtaining necessary permissions, registrations, approvals and clearances from relevant state authorities, in accordance with applicable policies, rules and regulations. At 2 PM, KPI Green Energy shares were trading at ₹449.90 apiece, rising 1.91% on NSE. Over a month's time, the stock has gained nearly 4%, while it has fallen 15% in 6 months. On a year-on-year basis, KPI Green Energy shares have surged 3%. The company's market capitalisation stood at ₹8,847.79 crore, with shares hitting a 52-week high of ₹563 on July 16, 2025.
