KPI Green Energy shares in focus after winning 142 MW floating solar EPC contract from GSECL

KPI Green Energy is expected to be in focus on Wednesday, December 3, following the announcement that the company has won a significant engineering, procurement, and construction (EPC) contract from Gujarat State Electricity Corporation Limited (GSECL).

The work order involves a 142 MW (DC) / 110 MW (AC) floating solar photovoltaic (FSPV) project at the Kadana Dam reservoir in Mahisagar district, Gujarat. This project marks a milestone for KPI Green Energy and highlights its expanding leadership in large-scale renewable energy infrastructure.

Project Scope and Strategic Importance: The project entails a complete turnkey EPC solution, including design, engineering, procurement, construction, installation, and grid connection. The scope also covers a 33 kV underground transmission line to the pooling station and 33/220 kV bays at the Kadana substation. A 10-year operation and maintenance (O&M) contract is part of the project, which is scheduled for completion within 18 months.

Dr. Faruk G. Patel, Chairman and Managing Director of the KP Group, said: “Winning the 110 MW floating solar EPC contract from GSECL is a major milestone for KPI Green Energy and the KP Group. It expands our portfolio into next-generation floating solar technology, reinforces our full-service EPC credentials, and underscores our commitment to driving India’s energy transition. We look forward to executing this project safely, on time, and to the highest quality standards.”

Stock Performance: KPI Green Energy shares closed up 1.34% at Rs 429 on Tuesday, giving the company a market capitalization of Rs 8,483 crore. However, the stock has seen a decline of over 20% in the past month, making Wednesday’s session closely watched by investors.

Technical Indicators: RSI (14-day): KPI Green Energy’s 14-day Relative Strength Index (RSI) stands at 30.6. An RSI below 30 typically indicates that a stock is oversold, suggesting potential buying interest, while an RSI above 70 is considered overbought, signaling possible selling pressure.

Moving Averages: The stock is currently trading below all 8 key Simple Moving Averages (SMAs), reflecting a bearish trend in both short-term and long-term price movements.

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