KPI Green signs MoU with Madhya Pradesh government to develop 1.8 GW renewable projects

Gujarat-based KPI Green Energy Ltd on Tuesday (February 25) announced that its parent company, KP Group, has signed a Memorandum of Understanding (MoU) with the New and Renewable Energy Department, Government of Madhya Pradesh for developing 1.8 GW of renewable energy projects in the state.”…we are delighted to inform that KP Group has inked a Memorandum of Understanding with the New and Renewable Energy Department, Government of Madhya Pradesh at the Global Summit – 2025 held in Bhopal on February 24, 2025, for setting up of various solar/wind/hybrid/BESS/Biomass based projects aggregating to 1.8 GW in the state of Madhya Pradesh,” KPI Green Energy said in a regulatory filing.

The MoU was signed at the Global Summit 2025 held in Bhopal and covers the development of solar, wind, hybrid, battery energy storage systems (BESS), and biomass-based projects.

Also Read: KPI Green Energy subsidiary wins orders to develop solar power projects with total capacity of 15.9 MWFor the third quarter, KPI Green Energy’s net profit for the period increased by 67% from last year to ₹85 crore. Revenue for the quarter stood at ₹458.3 crore, which is a growth of 39% from the year-ago quarter of ₹330 crore.

KPI Green’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 32% year-on-year to ₹137 crore, compared to ₹104 crore in the year-ago period. EBITDA margin stood at 30% from last year’s 31%.

Shares of KPI Green Energy Ltd ended at ₹397.55, down by ₹1.75, or 0.44% on the BSE.

Also Read: Upper Circuit Stocks: KPI Green Energy shares continue recovery after commissioning new plant