KPI Green Energy Ltd said its wholly-owned subsidiary, Sun Drops Energia Private Ltd, has received letters of intent (LoIs) to execute solar power projects with a cumulative capacity of 13.30 MW under the captive power producer (CPP) segment.

"We are pleased to announce that Sun Drops Energia Private Limited, a wholly owned subsidiary of KPI Green Energy Limited, has received Letters of Intent for executing solar power projects with a cumulative capacity of 13.30 MW under the 'Captive Power Producer (CPP)' business segment of the company," the company said in a stock exchange filing.

The orders have been awarded by entities including Sumicot Ltd, Ekta Prints Private Ltd, Radhika Fabrics, and Sanjopin Industries Private Ltd.

The projects will be developed by Sun Drops Energia in various tranches, with completion scheduled for the current financial year (FY24-25).

KPI Green Energy posted a two-fold rise in consolidated net profit at Rs 66.11 crore during the June quarter of FY25, mainly on account of higher income. It had reported a net profit of Rs 33.26 crore during the April-June period of the preceding 2023-24 fiscal.