KPI Global hits upper circuit on new order

Gujarat-based solar power generation company, KPI Global Infrastructure, informed the bourses that it had bagged orders for executing a solar power project of a capacity of 900 KW under Captive Power Producer (CPP) in Surat. The CPP solar power project has been received from JPB Fibers (Surat) for which the company has received a letter of intent.

The company has an operating proficiency in both the types of power generation streams namely, Independent Power Producer (IPP) as well as CPP. The latter contributes nearly 50 per cent of the total revenue of the company.

KPI Global Infrastructure is a solar power generating company focussed on providing solar power under the brand, Solarism. The company builds, owns, operates and maintains grid-connected solar power projects for Captive Power Producer (CPP) customers. The company has an installed capacity of 15 Megawatt (MW) at its Solarism plant. Its business operations can be classified into Independent Power Producer (IPP), CPP and Operation & Maintenance (O&M) Services as well as the sale of solar project land plots.

Reacting to this news, in the morning trading session on Tuesday, the stock of KPI Global locked at its upper circuit of 20 per cent and thereby, trading was suspended at Rs 40.70 per share, up by 19.88 per cent or Rs 6.75 per share. The stock’s 52-week high is Rs 73.95 and the 52-week low is Rs 24.05 on BSE.