KPI Green Energy Ltd Share Price – NSE /  BSE

Power Generation & Distribution, Small Cap

The board of KPI Green Energy at its meeting held on 18 February 2026 has approved the allotment of 1,01,00,000 fully convertible warrants at an exercise price of Rs 470.23 (including premium of Rs 465.30) per warrant on a preferential basis to Quyosh Energia, an entity belonging to the promoter group category.

Each warrant is convertible into one fully paid-up equity share of Rs 5/- each on payment of the balance 75% of the total consideration.

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KPI Green Energy has received orders from Adani Group entities for execution of electrical, civil and allied work for a 300 MWac / 405 MWdc project at the Khavda Hybrid Renewable Power Project, Renewable Energy Park, Khavda, Kutch, Gujarat.

The scope of work, inter alia, includes execution of electrical AC-DC works, civil works comprising pile foundation, installation of stubs, erection of module mounting structures, modules, robotic cleaning system structures and IDT stations, as well as supply of electrical DC/AC & HT equipment (other than main equipment), as detailed under the respective Service Orders and Purchase Order issued by the customer(s).

With receipt of these Service Orders and Purchase Order, the aggregate orders received by the Company from Adani Group entities in relation to the Khavda projects now stand at 834 MWac / 1,131 MWdc, including the 534 MWac / 726 MWdc order earlier intimated by the Company to the Stock Exchanges on January 16, 2026.

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KPI Green Energy announced the commencement of power generation and supply from its 200 MW AC / 240 MW DC grid-connected solar power project awarded by Gujarat Urja Vikas Nigam (GUVNL) through a competitive bidding process.

The project, with GUVNL as the off-taker, is being implemented under a long-term Power Purchase Agreement (PPA) and forms part of Gujarat's initiatives to expand renewable energy capacity and enhance grid reliability. The project has successfully achieved grid synchronization, and initial power injection into the state grid has commenced.

With the start of power generation, the project is expected to begin contributing to the Company's revenues on a sustained basis, supported by the long-term contracted tariff under the PPA, ensuring stable and predictable cash flows. Notably, this is one of the first solar power project to be commissioned in the 1.8 GW GSECL Solar Park (South Block), Khavda.

This milestone reinforces KPI Green Energy's strategic focus on scaling its Independent Power Producer (IPP) portfolio and expanding its presence in utility-scale solar and hybrid power projects, while supporting state utilities in meeting their renewable purchase obligations.

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KPI Green Energy has achieved a significant early milestone in its ongoing 250 MW AC / 350 MW DC grid-connected solar IPP project awarded by Gujarat Urja Vikas Nigam (GUVNL), with the successful commissioning of the first 24.2 MW AC / 34.4 MW DC capacity, well ahead of the overall contractual schedule.

The project forms part of the 250 MW AC (350 MW DC) grid-connected Solar Photovoltaic Power Project awarded to KPI Green Energy through a competitive bidding process.

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