KPI Green Energy Approves Fundraising Proposal Worth Rs 1,000 crore

Khavda: CIL Awards KPI Green Contract For 300 MW Solar Project

KPI Green Energy has approved the proposal of raising Rs 1,000 crore in a recently held board meeting. According to a regulatory filing, KPI Green Energy will raise the funds through the issuance of equity shares of the Company or any other equity-linked securities of the Company or other securities convertible into or exchangeable for Equity Shares by way of qualified institutions placement.

The issuance will adhere to the provisions outlined in Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other pertinent laws. Further, the company mentioned that the total number of securities proposed to be issued through the said QIP will be determined after an issue price is decided, which will be at the time of issuance of securities.

On work turf, KPI Green Energy has commissioned over 312 MW of renewable energy capacity, while it has evacuated over 846 MW of capacity. The firm has set itself a gigantic target of 2000 MW by 2025. Its consolidated capacity of renewable energy energized (inclusive of hybrid projects as an Independent Power Producer till FY 2023) is over 137 MW. In the hybrid Captive Power Producer mode, KPI Green Energy boasts over 175 MW of consolidated capacity till FY23.

Recently, KPI Green Energy has announced a series of order wins in its portfolio. These include a letter of intent for developing a 40 MW hybrid green energy project in Gujarat. The Surat-headquartered firm also announced the accomplishment of the charging of 26.l0 MW wind-solar hybrid project. This entails 16.10 MW wind and 10 MW CIC solar capacity. Earlier, the firm commissioned a 25 MW captive solar power project for Greenlab Diamonds in Surat.