KPI Green Energy Q1 FY27: Revenue Rises 16% as Renewable Portfolio Scales to 6.94 GW

KPI Green Energy Q1 FY27 Results: KPI Green Energy Limited has started FY27 with strong revenue and EBITDA growth, while continuing to expand its renewable-energy portfolio across solar, wind, hybrid and battery energy storage systems (BESS). The company’s Q1 FY27 investor presentation highlights a rapidly expanding project pipeline, higher renewable generation and a long-term strategy built around both EPC-led captive power projects and owned IPP assets.

The company submitted its Q1 FY27 investor presentation to the stock exchanges on August 11, 2026, covering the quarter ended June 30, 2026.

KPI Green Energy Q1 FY27 Financial Performance

KPI Green Energy reported ₹710 crore of total income in Q1 FY27, compared with ₹614 crore in Q1 FY26, representing a 16% year-on-year increase.

EBITDA increased 21% YoY to ₹262 crore, compared with ₹217 crore in the year-ago quarter. However, profit after tax declined to ₹95 crore from ₹111 crore, primarily reflecting higher depreciation and finance costs as the company’s asset base expanded.

Q1 FY27 Financial Highlights

Source: KPI Green Energy Q1 FY27 Investor Presentation.

The company said the lower PAT was primarily linked to higher depreciation and finance costs, while the growing asset base is expected to contribute more fully during the financial year.

Renewable Energy Portfolio Reaches 6.94 GW

One of the biggest highlights of the investor presentation is the company’s rapid capacity expansion.

KPI Green Energy’s total portfolio increased from 4.06 GW in June 2025 to 6.94 GW in June 2026, representing approximately 71% YoY growth.

During this period, the company:

• Added 2.88 GW of new orders
• Commissioned 0.85 GW
• Increased installed/operational capacity to 3.47 GW
• Increased work-in-progress capacity to 1.82 GW
• Expanded its overall portfolio to 6.94 GW

The company’s stated 2030 group target is more than 10 GW.

IPP Portfolio Expands to 2.57 GW

KPI Green Energy is increasing its exposure to the Independent Power Producer (IPP) model, which allows the company to own and operate renewable-energy assets and generate recurring revenue over the life of long-term power purchase agreements.

The company reported an IPP portfolio of 2.57 GWp, comprising 0.97 GWp commissioned and 1.60 GWp under execution. The portfolio is estimated to generate more than 390 crore kWh per year once operational at the stated run rate.

The IPP pipeline includes:

• 240 MWp solar commissioned
• 92 MWp hybrid commissioned
• 677 MWp hybrid under execution
• 350 MWp solar under execution
• 150 MW wind with PPA signed and financial closure achieved
• 565 MW BESS across two projects
• 300 MW wind with PPA signing under process

The company said that, except for C&I and Kusum projects, its utility-scale projects have GUVNL as the offtaker, while the 300 MW wind project is backed by SJVN.

IPP Generation Jumps Fourfold

The growing IPP portfolio is already translating into higher generation.

According to the presentation, Q1 FY27 IPP generation increased fourfold year-on-year. The company also said Q1 FY27 generation had already exceeded 65% of the total generation recorded during FY26.

This increase is important because greater IPP generation can progressively increase the contribution of recurring, contracted renewable-energy revenue.

CPP + IPP: KPI Green Energy’s Two-Engine Model

KPI Green Energy’s business strategy combines two complementary models:

Captive Power Producer — CPP

Under the CPP/EPC model, KPI Green Energy secures land, designs and builds renewable plants for customers. Ownership of the asset transfers to the customer, while the company continues to provide long-term O&M and power-supply services.

The model is designed to provide faster revenue and profit monetisation while requiring comparatively lower capital deployment by KPI Green Energy.

Independent Power Producer — IPP

Under the IPP model, KPI Green Energy retains ownership of utility-scale solar, wind, hybrid and BESS assets.

The company targets 25-year PPAs with utility and C&I customers, creating a contracted revenue stream over the asset’s operating life.

The company believes the combination allows it to recycle capital through the CPP business while simultaneously building a long-term annuity asset base through IPP projects.

Land Bank and Power Evacuation Capacity Strengthen Execution

KPI Green Energy has also been building the infrastructure required to support future project execution.

Its strategic land bank increased to 8,657 acres by June 2026, compared with 6,275 acres in June 2025.

Power evacuation capacity increased to approximately 5,102 MW, compared with 3,297 MW a year earlier.

The company considers advance availability of land and grid connectivity an important competitive advantage because these are often major bottlenecks in renewable-energy project execution.

Expansion Beyond Gujarat

KPI Green Energy said it successfully expanded its geographic presence into Rajasthan during Q1 FY27.

Its presentation shows a growing project footprint across Gujarat, Maharashtra and Rajasthan, with projects connected to various distribution and transmission networks including DGVCL, UGVCL, PGVCL, MGVCL, MSEDCL, CTU and RVPNL.

International Expansion: Botswana and UAE

The company is also exploring international renewable-energy opportunities.

Botswana

KPI Green has signed an MoU with the Government of Botswana for 5 GW of renewable-energy facilities.

The company said planning for the first 500 MW phase is underway, with 500 hectares of land identified and the acquisition process underway.

UAE

In the UAE, KPI Green has formed a global alliance with Fabtech Group and F Plus Healthcare Technologies to provide renewable-energy solutions to sectors including data centres, pharmaceuticals, biotechnology and life sciences.

The company is also executing a solar-plus-BESS project to supply a containerised data-centre facility.

BESS, Floating Solar and Energy Trading: New Growth Areas

KPI Green Energy is expanding beyond conventional solar and wind projects into several emerging renewable-energy segments.

Battery Energy Storage Systems

The company highlights India’s growing BESS requirement, estimating a requirement of 236 GWh by FY32.

KPI Green has already signed a 565 MW / 1,130 MWh BESPA, with financial closure in progress.

Floating Solar

The company sees around 102 GW of floating-solar potential in India.

It has secured a 142 MW EPC order for the Kadana Dam project in Gujarat, which is currently under active execution.

Renewable Energy Trading

KPI Green has secured CERC and GERC trading licences and has started trading on a pilot basis through exchange and bilateral markets.

These initiatives could allow the company to participate in additional parts of the renewable-energy value chain beyond project development and EPC.

India’s Renewable Energy Opportunity

The investor presentation places KPI Green’s expansion against India’s broader clean-energy transition.

The company highlighted India’s 500 GW non-fossil capacity target by 2030 and noted that FY26 witnessed a record 55 GW capacity addition, led by solar and wind.

It expects solar and wind capacity to grow from around 206 GW in FY26 to 664 GW by FY36, while renewable energy’s share of installed capacity is projected to rise from around 50% in FY27 to 66% by FY36.

The presentation also highlights increasing electricity demand, data centres, round-the-clock renewable energy, green hydrogen and energy-storage requirements as structural drivers for the sector.

KPI Green Energy’s Long-Term Growth Target

KPI Green Energy’s presentation indicates a clear focus on scaling its renewable-energy platform.

The company’s total portfolio has already reached 6.94 GW, while the wider KP Group has a stated target of 10 GW by 2030.

The strategy is built around:

• Solar and wind capacity expansion
• Hybrid renewable projects
• BESS
• CPP/EPC projects
• Long-term IPP assets
• Floating solar
• Renewable-energy trading
• C&I renewable solutions
• International expansion

Disclaimer: This article is based on information presented by KPI Green Energy Limited in its investor presentation. Forward-looking statements, targets and industry projections are subject to risks and uncertainties. This article is for informational purposes only and should not be considered investment advice.