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KPI Green Energy Ltd. on Monday announced that it has signed new Power Purchase Agreements (PPAs) for the sale of 6.3 megawatts (MW) of solar power in the interdependent power producer (IPP) segment. The company intimated the bourses that it has signed the long-term PPAs with three private companies.

The three clients include Heubach Colour Pvt. Ltd., which will be purchasing a capacity of 2.9 MW, and Sachin Paper Mills, which will be picking 0.4 MW of solar power. The third client is Alembic Pharmaceuticals Ltd., which will be buying 3 MW of power from KPI Green Energy, taking the total sale to 6.3 MW.

In December 2022, the company signed a power purchase agreement with a subsidiary of Tata Motors, Tata Motors Passengers Vehicles, for the sale of 7.5 Megawatt Peak (MWp) solar power, under the IPP segment of the company.

KPI Green Energy also bagged another new order for a 33 MW solar power project under the captive power producer (CPP) segment of the company. The Gujarat-based solar power producer and distributor will develop the project through its wholly-owned subsidiary, KPIG Energia Pvt. 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 Green Energy ended 1.74 percent higher at Rs 873 on Monday.

(Edited by : Rukmani Krishna)