KPI Green Energy has received approvals from the Chief Electrical Inspector (CEIG) (charging approval) for 5 MW of solar power project under the company's CPP business segment. This project was executed for KPIG Energia, wholly owned subsidiary of the Company.

The approval from the Chief Electrical Inspector (CEIG) is a critical regulatory requirement for energy projects.

The new solar power capacity is expected to strengthen the company's foothold in the renewable energy market. In September, KPI Green Energy announced that it had received a Letter of Award (LoA) to develop a 66.20 MW hybrid power project under the captive power producer (CPP) segment. The order was placed by Sai Bandhan Infinium Pvt Ltd.

Also, KPI Green Energy last month obtained approvals from the Chief Electrical Inspector to develop a 12.72 MW wind-solar hybrid power project. This project will also be executed under the company's captive power producer business segment.

The company's subsidiary, Sun Drops Energia, received Letters of Intent for solar power projects with a cumulative capacity of 7 MW under the captive power producer segment. The projects were secured from domestic firms Wolkem India Ltd and Mahadev Texo Fab on September 3.

KPI Green Energy reported a net profit of Rs 66.11 crore for the quarter ended June 30, 2024, up 99% from Rs 33.26 crore a year earlier.