KPI Green Energy shares fall 3% despite 32.15 MW solar project wins for subsidiary

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Shares of KPI Green Energy fell 3.22 per cent to ₹553.95 on the BSE at 12.56 pm on Friday.

The company announced that its subsidiary, Sun Drops Energia Pvt Ltd, had secured contracts to develop 32.15 MW of solar power projects for several industrial clients in India.

These projects, which were awarded through Letters of Award/ Intent, were intended for a diverse range of companies, including Aditya Ultra Steel Pvt. Ltd, Suraj Dyeing & Printing Ltd, Sunita Processors Pvt. Ltd, Balaji Polyester Pvt. Ltd, Citizen Metalalloys Ltd, Suez Internationals, Vintage Tiles, Siddheswari Textiles, P. D. & Sons, Hayat Enterprise, Meghdoot Leisure LLP, and Devang Paper Mill. Sun Drops Energia was responsible for the design, development, and construction of these solar power plants.

The projects were expected to be completed in phases throughout the financial year 2025–26.

The stock had hit a 52-week high of ₹1,116.00 on August 12, 2024, and low of ₹453.89 on January 18, 2024, on the BSE.