KPI Green Energy Limited announced today the signing of a contract agreement with Coal India Limited to develop a 300 MW AC grid-connected solar PV plant in Gujarat’s Khavda region. The project, valued at ₹1,311.40 crore, will be installed at GIPCL’s Solar Park and includes operation and maintenance services for five years.
The shares of KPI Green Energy Limited were trading at ₹349.85 up by ₹16.65 or 5 per cent on the NSE today hitting its upper band.
The agreement follows the company’s earlier intimations to stock exchanges in late November and early December 2024. The project is scheduled for completion by November 2025.
The ground-mounted solar installation represents a significant step in Coal India’s push toward renewable energy adoption. For KPI Green Energy, the project aligns with its ambitious target of achieving 10 GW capacity by 2030.
The project demonstrates the ongoing transition in India’s energy sector, with traditional fossil fuel companies like Coal India increasingly investing in renewable energy infrastructure.