Solar Stock in Focus: Power Company Adds 35 MWp Solar Capacity, Operational IPP Portfolio Hits 589 MWp

Prajwal DSIJ / 13 Mar 2026 / Categories: Mindshare, Trending

Solar Stock in Focus: Power Company Adds 35 MWp Solar Capacity, Operational IPP Portfolio Hits 589 MWp

The stock price has surged over 22.46 per cent in the last 3 years. The stock has also gained about 7.76 per cent from its 52-week low of Rs 520.20 per share.

On Thursday, shares of KEC International Ltd closed 2.34 per cent higher at Rs 560.55 per share from its previous closing of Rs 547.75 per share. The stock’s 52-week high is Rs 947 per share and its 52-week low is Rs 520.20 per share. During the session, the stock surged about 5.61 per cent to its Intraday high of Rs 578.50 per share. 

KPI Green Energy Ltd has energised an additional 35 MWp of Solar capacity, taking its total operational Independent Power Producer (IPP) capacity to 589 MWp. With projects currently under development, the company aims to commission another 1,582 MWp in the near term, which will expand its total IPP portfolio to 2.17 GWp.

The growing capacity strengthens KPI Green’s position as a major Independent Power Producer in India’s renewable energy sector. The company’s IPP portfolio supports a stable annuity-based revenue stream through long-term contracted projects under Power Purchase Agreements (PPAs), many with tenures of up to 25 years. The development also reflects the company’s strategic transition toward an asset-backed IPP model while leveraging its established Engineering, Procurement and Construction (EPC) capabilities.

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One of the key developments includes the commissioning of a 200 MW (240 MWp) solar IPP project at Khavda Solar Park in January 2026. The project began injecting power early and is among the first operational projects in the 1.8 GW solar park developed by GSECL. The project operates under a long-term PPA with Gujarat Urja Vikas Nigam Ltd.

KPI Green has also achieved grid synchronisation and started power injection ahead of schedule for its 92.15 MWp hybrid renewable energy project, which includes 16.95 MW wind capacity and 75.2 MWp solar capacity. The project’s commercial operation date was originally scheduled for July 2026, and early synchronisation highlights the company’s execution strength in hybrid renewable energy infrastructure.

In October 2024, KPI Green executed two long-term PPAs with Gujarat Urja Vikas Nigam Ltd for a combined renewable capacity of 620 MW / 917 MWp. The projects include a 250 MW / 275 MWp grid-connected solar IPP project and a 370 MW / 642 MWp grid-connected hybrid IPP project.

Under the solar project, the company has already commissioned 48.4 MW / 69.41 MWp capacity on a phased basis. The remaining capacity is currently under execution and is expected to be completed within the October 2026 timeline. The hybrid IPP project is also under active execution and is scheduled for completion within the same timeframe.

KPI Green is also expanding into energy storage through its subsidiary Sun Drops Energia Ltd. The subsidiary has signed a Battery Energy Storage Purchase Agreement with Gujarat Urja Vikas Nigam Ltd for 445 MW / 890 MWh of standalone Battery Energy Storage Systems (BESS). This marks the company’s entry into utility-scale energy storage, strengthening its capability to integrate renewable generation with advanced grid stability and energy management solutions.

The renewable energy expansion is supported by the broader vision of KP Group. Established in 1994 by Dr. Faruk G. Patel, the group has evolved into a diversified conglomerate with expertise in renewable energy, infrastructure and innovation. Over the past three decades, the group has led projects across wind, solar, hybrid energy, Battery Energy Storage Systems and green hydrogen, contributing to India’s energy transition and sustainability goals.

With a strong renewable energy portfolio and long-term contracted projects, the group continues to position itself as a trusted partner for organisations looking to reduce carbon emissions and adopt sustainable energy solutions.

The company has a market cap of over Rs 14,965.76 crore. The stock price has surged over 22.46 per cent in the last 3 years. The stock has also gained about 7.76 per cent from its 52-week low of Rs 520.20 per share.

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