KPI Green FY26 Revenue Jumps 56 Percent to INR 2,742 Crore, Renewable Portfolio Expands to 6.26 GW

KPI Green Energy has reported a 56 percent year-on-year rise in consolidated total income to INR 2,742 crore for FY26, driven by rapid renewable energy capacity expansion, strong project execution, and growth across solar, wind, battery storage and green hydrogen businesses.

The company’s profit after tax climbed 57 percent to INR 509 crore during the financial year ended March 31, 2026, compared to INR 325 crore in FY25. EBITDA surged 73 percent to INR 1,006 crore, while EBITDA margin improved to 37 percent from 33 percent in the previous fiscal.

For the March quarter, KPI Green posted total income of INR 810 crore, up 40 percent year-on-year, while quarterly PAT rose 49 percent to INR 155 crore.

The Surat-based renewable energy developer said its installed capacity reached 1.62 GW as of March 31, 2026, with another 4.64 GW under execution. The company’s total renewable energy portfolio across independent power producer (IPP) and captive power producer (CPP) segments expanded to 6.26 GW from 3.91 GW a year earlier.

The company also increased its land bank to over 7,210 acres and expanded power evacuation capacity to 3.59 GW to support future growth.

Under its IPP business, KPI Green has 965 MW operational and 1.61 GW under execution, while the CPP segment contributes the bulk of revenue with 660 MW operational capacity and 3.03 GW under development.

During FY26, the company secured several major renewable energy projects, including a 300 MW wind power project from SJVN at a tariff of INR 3.64 per unit. It also achieved financial closure for a separate 150 MW wind project awarded by Gujarat Urja Vikas Nigam Limited.

In the energy storage segment, KPI Green’s subsidiary Sun Drops Energia won a 445 MW/890 MWh standalone battery energy storage system project backed by viability gap funding from GUVNL.

The company also entered the green hydrogen space with a 1 tonne-per-day plasma gasification-based hydrogen plant project using municipal solid waste as feedstock. KPI Green and the broader KP Group are targeting over 10 GW of renewable energy capacity by 2030.

Further strengthening its renewable portfolio, KPI Green secured a 142 MW floating solar project at Gujarat’s Kadana Dam reservoir from Gujarat State Electricity Corporation Limited, covering engineering, procurement, construction and a 10-year operations and maintenance contract.

In a strategic development, the company received inter-state and intra-state electricity trading licences from the Central Electricity Regulatory Commission and Gujarat Electricity Regulatory Commission, enabling participation in pan-India electricity markets and renewable power trading platforms.

The company said that the licences would help improve price efficiency, real-time balancing and integration of renewable energy across markets.

On the international front, KP Group signed a memorandum of understanding with the Government of Botswana to develop nearly 5 GW of renewable energy capacity, with 500 MW planned in the first phase. The group also partnered with South Korea’s Jeonbuk Province to advance green hydrogen development.

KPI Green’s net worth increased 24 percent to IR 3,273 crore, while fixed assets more than doubled to INR 5,427 crore. Operating cash flow also doubled to INR 424 crore during FY26.

Promoters currently hold a 50.51 percent  stake in the company, while institutional investors include Vanguard, Abu Dhabi Investment Authority, BlackRock, Norway’s Government Pension Fund, Morgan Stanley and BNP Paribas.