KPI Green has secured a significant renewable energy contract from Adani Group for the 300 MWac / 405 MWdc Khavda Hybrid Renewable Power Project located in Khavda, Kutch, Gujarat. According to an exchange filing reported by CNBC TV18, the Gujarat-based company will execute electrical, civil and allied works for this hybrid renewable project. The project scope includes electrical AC-DC works and civil works involving pile foundation, installation of stubs, erection of module mounting structures, modules, robotic cleaning system structures and IDT stations, along with supply of electrical DC/AC & HT equipment. As per the latest reports, the assignment will be executed under agreed commercial terms with a focus on timely commissioning and grid integration, reflecting the growing role of utility-scale projects in corporate power procurement strategies.
This latest award brings KPI Green's total orders from Adani Group entities to 834 MWac / 1,131 MWdc for the Khavda projects. As reported by CNBC TV18, the company had previously secured another 534 MWac / 726 MWdc order in the same project on January 16, 2026. The project will encompass site development, deployment of photovoltaic arrays and associated balance of system infrastructure to deliver utility-scale generation capacity. KPI Green will coordinate with supply chain partners and service providers to manage equipment delivery and on-site installation, applying established project management protocols to maintain schedule and quality benchmarks.
Following the announcement, KPI Green shares were trading higher, gaining 0.78% or ₹3.25 to reach ₹422.15 per share. According to CNBC TV18, the stock had risen over 1% in early trading but has since given up some gains. In the past week, the company's shares have risen by over 4%, reflecting positive investor sentiment toward the renewable energy contract wins. The contract reinforces KPI Green's position in the renewable energy sector and provides further visibility on its ability to handle high-capacity projects, with market observers watching execution progress and potential follow-on opportunities arising from the collaboration.
The latest contract builds on KPI Green's existing Gujarat portfolio, which includes a ₹489.17 crore order from Gujarat State Electricity Corporation Ltd (GSECL) for a 142 MW (DC) / 110 MW (AC) floating solar project at the Kadana Dam reservoir in Gujarat. As reported by CNBC TV18, this earlier project was announced in December 2025, demonstrating the company's continued expansion in the Gujarat renewable energy market. For Adani Group, the project supports ongoing efforts to expand renewable capacity and transition towards lower carbon generation, with stakeholders viewing the contract as a sign of continued momentum in corporate renewable procurement.
