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KPI Green Energy has announced that it has signed a power purchase agreement (PPA) with Tata Motors Passengers Vehicles Ltd., a subsidiary of Tata Motors, for the sale of 7.50 MWp (Megawatt Peak) solar power. The long-term agreement has been inked under the Independent Power Producer (IPP) segment of the company.

KPI Green Energy 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 Private Ltd.

Earlier this week, KPI Green Energy also received a contract to develop solar power projects aggregating to 24.90 MWp capacity under the captive power producer segment from seven entities.

The company is developing the project through its wholly-owned subsidiaries -- KPIG Energia Pvt. Ltd. and Sundrops Energia Pvt. Ltd.

As per the company, 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.

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 are trading at Rs 935.95, up 1.72 percent.

(Edited by : Rukmani Krishna)