K.P. Energy (NSE:KPEL, BOM:539686) has received a Letter of Award from Solar Energy Corp. of India (SECI) to set up a 100 megawatt inter-state transmission system connected wind power project in Gujarat, India, under Tranche XIX, according to an Indian bourse filing on Tuesday.
Shares of the company were down nearly 2% in Wednesday's trade.
The project will be developed under the independent power producer segment pursuant to tariff-based competitive bidding carried out by SECI, the company said in the filing.
Upon execution of the power purchase agreement and development of the project, the company's independent power producer portfolio is expected to increase to around 150 megawatt, according to the filing.