KPI Green Energy has completed the acquisition of remaining 0.10% stake in KPark Sunbeat on December 16, 2023. Accordingly, KPark has become Wholly Owned Subsidiary of the Company. The Company is already holding 99.90% stake in KPark.
The object of acquisition of the share of the KPark is to consolidate solar power projects of the KP Group under single entity i.e., KPI Green Energy in order to achieve benefits of scale. This will enable the Company to dynamically allocate the resources in the best possible ways and achieve the ambitious target to touch combined renewable energy capacity of 1,000 MW by 2025. The acquisition of the above KPark is an enabler for efficient reorganization of renewable energy businesses which may be pursued in future.
KPI Green Energy (formerly known as K.P.I. Global Infrastructure) is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as service provider to Captive Power Producer (CPP) customers.
