3,750 Per Cent Returns: Multibagger Solar Company Wins 150 MW Wind Project from GUVNL via Competitive Bidding

DSIJ Intelligence-2 / 15 Jul 2025/ Categories: Mindshare, Multibaggers, Trending

3,750 Per Cent Returns: Multibagger Solar Company Wins 150 MW Wind Project from GUVNL via Competitive Bidding

The stock is up over 73.12 per cent from its 52-week low of Rs 313 per share.

KPI Green Energy Limited has announced the receipt of a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of a 150 MW grid-connected wind power project in Gujarat. The project was secured through a competitive bidding process under the tender “RfS No. GUVNL/250 MW/Wind (Phase IX),” initially floated on January 18, 2025. The process also included a reverse e-auction conducted on April 22, 2025.

The original tender was floated for 250 MW of wind power capacity with an additional greenshoe option of 250 MW, allowing a total possible capacity of 500 MW. KPI Green Energy emerged as one of the successful bidders in this highly competitive process and was awarded 150 MW. The execution of the Power Purchase Agreement (PPA) is subject to approval by the Gujarat Electricity Regulatory Commission (GERC).

The company stated that this order aligns strongly with its strategic roadmap and reaffirms its commitment toward achieving a total renewable energy capacity of 10 GW by the year 2030. KPI Green Energy expressed that the LOI is a reflection of the trust placed in its technical expertise and execution capabilities in delivering reliable and sustainable energy infrastructure.

DSIJ's 'Value Pick' service recommends long-term stocks based on Value Investing Philosophy. If this interests you, download the service details here.

KPI Green Energy Limited, headquartered in Surat, Gujarat, is part of the KP Group established in 1994. The company is engaged in developing grid-connected solar and wind power projects and has built a strong presence in India's renewable energy sector. It has set an ambitious goal of reaching 10 GW capacity by 2030 and has been certified as a Great Place to Work for the period June 2024 to June 2025.

The company has a market cap of over Rs 10,000 crore and has delivered good profit growth of 118 per cent CAGR over the last 5 years. The shares of the company have an ROE of 18.7 per cent and an ROCE of 17.5 per cent. The stock is up over 73.12 per cent from its 52-week low of Rs 313 per share.

Disclaimer: The article is for informational purposes only and not investment advice.