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KPI Green Energy announced on Monday that it received new orders to develop solar power projects aggregating to 24.90 Megawatt (MW) capacity under the captive power producer segment from seven entities.

The seven entities that awarded the contract include Creative Technologies, General Polytex, General Petrochemicals, Savalia Texturisers, Rushabh Wire Industries LLP, Rajputana Stainless, and VD Global.

KPI Green Energy said that it is developing the project through its wholly-owned subsidiaries KPIG Energia Pvt. Ltd. and Sundrops Energia Pvt. Ltd.

The company, through its wholly-owned subsidiaries, has commissioned 38.76 MWp solar power projects under both Captive Power Producer (CPP) and Independent Power Producer (IPP) segments.

Following the commissioning of the new orders aggregating to 24.90 MWp, the company’s total cumulative capacity of the solar power projects under both the CPP and IPP segments will reach 63.66 MWp.

The execution of the development works has commenced at the site and the entire capacity is scheduled to be completed by March 31, 2023, in various tranches.

Earlier this month, KPI Green Energy announced that it received a new order for a captive power producer project from Isha Prints LLP. The company will be building a solar power plant capable of generating 1.10 MW of energy.

KPI Green Energy last month also commissioned a 5.40 MW captive solar power project for its client Anupam Rasayan India Ltd.

KPI Green Energy, earlier known as KPI Global Infrastructure, develops, operates, and maintains captive solar power projects for its clients. The company is also a power producer and sells solar energy under the Solarism brand in Gujarat.

Shares of KPI Energy are trading 0.80 percent higher at Rs 906.

(Edited by : Rukmani Krishna)