KPI Green Energy Ltd

KPI Green Energy has recently energised an additional 376 MWp capacity (comprising ~182 MWp solar capacity in GUVNL 250/350 MWp project and ~164 MWp Solar capacity and ~30 MWp Wind capacity in GUVNL 370 MW/677 MWp project). With this, the Company's total energised capacity under its Independent Power Producer (IPP) portfolio has reached 965 MWp, marking a significant milestone in the phased development of its utility-scale renewable energy assets. With a total IPP portfolio of 2.17 GWp, the balance capacity is under execution and is expected to be commissioned in a phased manner, in line with scheduled timelines. This continued execution across KPI Green's IPP portfolio strengthens its position as a leading Independent Power Producer (IPP), while reflecting its strong project development and delivery capabilities and enhancing long-term revenue visibility through a growing base of contracted renewable energy assets under long-term Power Purchase Agreements (PPAs). Powered by Capital Market - Live

The sanctioned amount includes Rs 931 crore as a fresh rupee term loan and Rs 48 crore in the form of a bank guarantee facility, the company said. The project, which is being developed across Bharuch and Bhavnagar districts, is backed by 25-year long-term power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL), ensuring revenue visibility over the long term. The total project cost is estimated at Rs 1,241.68 crore and will be funded in a debt'equity ratio of 75:25, with the sanctioned term loan forming the debt component. The financing comes with a door-to-door tenor of 20 years and one month, including an implementation period of one year and four months and a moratorium of one year, providing long-term financial support for the execution of the project. The development forms part of KPI Green Energy's expanding IPP portfolio as it continues to scale up its renewable energy capacity. Dr. Faruk Patel, chairman & managing director (MD), KPI Green Energy, stated: 'This sanction from Canara Bank represents another important milestone in KPI Green Energy's growth journey. The continued support from leading public sector banks reflects strong confidence in our execution capabilities and long-term vision in the renewable energy sector. Access to long-term project financing remains a critical enabler for scaling clean energy infrastructure and this facility will support the timely development of our wind power project. This facility will help accelerate the growth of our renewable energy portfolio, reinforce stable annuity revenues, and create enduring value for all stakeholders. Upon commissioning, these projects will make a substantial contribution to KP Group's 10 GW target by 2030' KPI Green Energy is part of KP Group. They develop, build, own, manage, and maintain renewable power facilities (solar and wind solar hybrid power projects) as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs) under the 'Solarism' brand. The company's consolidated net profit jumped 47.73% to Rs 125.80 crore in Q3 FY26, compared with Rs 85.15 crore in Q3 FY25. Total revenue for Q3 FY26 stood at Rs 676 crore, up 45% year-on-year from Rs 466 crore in Q3 FY25. Shares of KPI Green Energy rose 0.08% to currently trade at Rs 383.05 on the BSE. Canara Bank is a public sector bank in India. As of 31 December 2025, the bank has 10,066 branches, out of which 3,195 are rural, 3,007 semi-urban, 1,980 urban, and 1,884 metro, along with 7,048 ATMs. Bank is also having 4 Overseas Branches in London, New York, Dubai & IBU Gift City Gujrat. The bank reported standalone net profit jumped 25.61% to Rs 5,155.11 crore on a 10.43% increase in total income to Rs 39,880.96 crore in Q3 FY26 over Q3 FY25. The scrip rose 0.48% to Rs 137.15 on the BSE. Powered by Capital Market - Live

KPI Green Energy has secured a sanction of Rs 931 crore from Canara Bank in the form of a Fresh Rupee Term Loan and Rs 48 crore in the form of a Bank Guarantee, to finance the development of its 150 MW wind power project in Gujarat. The project is secured by 25-year long-term Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL), is being developed in Bharuch and Bhavnagar districts in Gujarat and forms part of the Company's growing Independent Power Producer (IPP) portfolio. The total project cost is estimated at Rs 1,241.68 crore, proposed to be funded in a debt-equity ratio of 75:25, with the sanctioned term loan forming the debt component of the project financing. The facility carries a door-to-door tenor of 20 years 1 month, including implementation period of 1 year 4 months and moratorium period of 1 year, providing long-term financial support for the project's development and implementation. Dr. Faruk Patel, Chairman & Managing Director, KPI Green Energy Limited, stated: 'This sanction from Canara Bank represents another important milestone in KPI Green Energy's growth journey. The continued support from leading public sector banks reflects strong confidence in our execution capabilities and long-term vision in the renewable energy sector. Access to long-term project financing remains a critical enabler for scaling clean energy infrastructure and this facility will support the timely development of our wind power project. This facility will help accelerate the growth of our renewable energy portfolio, reinforce stable annuity revenues, and create enduring value for all stakeholders. Upon commissioning, these projects will make a substantial contribution to KP Group's 10 GW target by 2030.Powered by Capital Market - Live

KPI Green Energy has successfully commissioned an additional 24.2 MW AC / 35.01 MW DC capacity in its ongoing 250 MW AC / 350 MW DC grid-connected solar IPP project awarded by Gujarat Urja Vikas Nigam (GUVNL). With this commissioning, the total commissioned capacity under the project has reached 48.4 MW AC /69.41 MW DC, reflecting the Company's steady progress in the execution of the project. The project forms part of the 250 MW AC (350 MW DC) grid-connected Solar Photovoltaic Power Project awarded to KPI Green Energy through a competitive bidding process. Powered by Capital Market - Live

The agreement follows a Letter of Intent issued on 3 January 2026 for the development of self-owned Independent Power Producer (IPP) standalone BESS projects with an aggregate capacity of 445 MW / 890 MWh across multiple locations in Gujarat. The projects were awarded under GUVNL's Phase-VII tariff-based competitive bidding, supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF). Under the agreement, Sun Drops Energia will develop, own, and operate the BESS projects and make the contracted battery energy storage capacity available to GUVNL on a long-term basis. KPI Green Energy is part of KP Group. They develop, build, own, manage, and maintain renewable power facilities (solar and wind solar hybrid power projects) as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs) under the 'Solarism' brand. The company's consolidated net profit jumped 47.73% to Rs 125.80 crore in Q3 FY26, compared with Rs 85.15 crore in Q3 FY25. Total revenue for Q3 FY26 stood at Rs 676 crore, up 45% year-on-year from Rs 466 crore in Q3 FY25. Shares of KPI Green Energy fell 2.44% to currently trade at Rs 341.95 on the BSE.Powered by Capital Market - Live

KPI Green Energy has successfully completed 92.4 MW wind power project for Ayana Renewable Power Four at Nakhatrana, Bhuj, Gujarat. The project comprises 28 wind turbine generators (WTGs). Company has completed all works under its scope, including Balance of Plant (BOP), Power Substation (PSS), EHV transmission line, and erection and installation of the WTGs. Powered by Capital Market - Live

The board of KPI Green Energy at its meeting held on 18 February 2026 has approved the allotment of 1,01,00,000 fully convertible warrants at an exercise price of Rs 470.23 (including premium of Rs 465.30) per warrant on a preferential basis to Quyosh Energia, an entity belonging to the promoter group category. Each warrant is convertible into one fully paid-up equity share of Rs 5/- each on payment of the balance 75% of the total consideration.Powered by Capital Market - Live

KPI Green Energy has received orders from Adani Group entities for execution of electrical, civil and allied work for a 300 MWac / 405 MWdc project at the Khavda Hybrid Renewable Power Project, Renewable Energy Park, Khavda, Kutch, Gujarat. The scope of work, inter alia, includes execution of electrical AC-DC works, civil works comprising pile foundation, installation of stubs, erection of module mounting structures, modules, robotic cleaning system structures and IDT stations, as well as supply of electrical DC/AC & HT equipment (other than main equipment), as detailed under the respective Service Orders and Purchase Order issued by the customer(s). With receipt of these Service Orders and Purchase Order, the aggregate orders received by the Company from Adani Group entities in relation to the Khavda projects now stand at 834 MWac / 1,131 MWdc, including the 534 MWac / 726 MWdc order earlier intimated by the Company to the Stock Exchanges on January 16, 2026.Powered by Capital Market - Live

KPI Green Energy announced the commencement of power generation and supply from its 200 MW AC / 240 MW DC grid-connected solar power project awarded by Gujarat Urja Vikas Nigam (GUVNL) through a competitive bidding process. The project, with GUVNL as the off-taker, is being implemented under a long-term Power Purchase Agreement (PPA) and forms part of Gujarat's initiatives to expand renewable energy capacity and enhance grid reliability. The project has successfully achieved grid synchronization, and initial power injection into the state grid has commenced. With the start of power generation, the project is expected to begin contributing to the Company's revenues on a sustained basis, supported by the long-term contracted tariff under the PPA, ensuring stable and predictable cash flows. Notably, this is one of the first solar power project to be commissioned in the 1.8 GW GSECL Solar Park (South Block), Khavda. This milestone reinforces KPI Green Energy's strategic focus on scaling its Independent Power Producer (IPP) portfolio and expanding its presence in utility-scale solar and hybrid power projects, while supporting state utilities in meeting their renewable purchase obligations. Powered by Capital Market - Live

KPI Green Energy has achieved a significant early milestone in its ongoing 250 MW AC / 350 MW DC grid-connected solar IPP project awarded by Gujarat Urja Vikas Nigam (GUVNL), with the successful commissioning of the first 24.2 MW AC / 34.4 MW DC capacity, well ahead of the overall contractual schedule. The project forms part of the 250 MW AC (350 MW DC) grid-connected Solar Photovoltaic Power Project awarded to KPI Green Energy through a competitive bidding process. Powered by Capital Market - Live