KP Energy Ltd updates on 250.8 MW wind project

The company had earlier announced regarding the alignment of KP Energy with CLP India Private Limited ("CLP India") for developing a 250.8 MW wind site at Devbhoomi Dwarka for Solar Energy Corporation of India Limited (SECI) Tranche - VIII bid.

Due to external factors like regulatory developments and widespread COVID-19 pandemic impacting business operations all over the world, the execution of the Definitive Agreement(s) could not be realised as expected.

Accordingly, in the interest of mutually beneficial relationship and coordination for early completion of the Project amidst challenges including pandemic, parties have mutually agreed on the date of execution of the Definitive Agreements, on or before October 15, 2020.

Despite the time taken to close and execute the Definitive Agreements for the Project, several Project activities, such as completion of the technical and physical assessments for the Project, has been undertaken by the Parties.

Shares of K.P. Energy Ltd was last trading in BSE at Rs.80.95 as compared to the previous close of Rs. 80. The total number of shares traded during the day was 861 in over 27 trades.

The stock hit an intraday high of Rs. 81.9 and intraday low of 76. The net turnover during the day was Rs. 66967.

Source : Equity Bulls

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