KPI Green Energy won a Rs 128.49 crore contract from NTPC for green hydrogen. The order covers a green hydrogen project in Greater Noida, Uttar Pradesh. KPI Green Energy disclosed three award notifications in a filing. The work will take place at NTPC’s NETRA facility. KPI Green Energy also includes a two-year operations and maintenance term in the contract.
KPI Green Energy said the three awards cover design, engineering, manufacturing, and supply of plant and equipment for the green hydrogen project. The scope also includes transportation, erection, installation, testing, and commissioning. In addition, KPI Green Energy will handle operations and maintenance for two years.
The company said NTPC structured the awards as three separate orders, with an aggregate contract value of Rs 128.49 crore. KPI Green Energy said the value excludes GST. It also referenced NTPC bidding documents for plant execution and safety requirements. The company said it will supply mandatory spares on an Ex-Works (India) basis.
KPI Green Energy plans a 1-tonne-per-day green hydrogen plant at the Greater Noida site. The company said the project supports its expansion beyond solar and hybrid assets. KPI Green Energy said its renewable portfolio includes solar, wind, and hybrid power projects. It also said the order adds waste-to-energy and green hydrogen to its clean energy roadmap.
The project will use plasma-induced radiant energy gasification to convert waste into synthesis gas for hydrogen production. KPI Green Energy said the process can use municipal solid waste, refuse-derived fuel, and agricultural waste. NTPC’s project aims to cut landfill dependency while creating a pathway for green hydrogen generation.
KPI Green Energy said the work package covers pre-commissioning and commissioning activities, along with performance testing. The scope also includes erection and installation at the NTPC NETRA facility. KPI Green Energy said it will manage operations and maintenance for two years after commissioning. The company said the contract terms align with NTPC’s project specifications.
KPI Green Energy shares closed at Rs 429, up 2% after the contract disclosure. Over the last five trading sessions, the stock delivered a 1% return. Meanwhile, NTPC shares stood at Rs 322.4, down marginally. Over the same five sessions, the stock gained over 1%.
KPI Green Energy develops, builds, owns, operates, and maintains solar and hybrid power plants. It works as an independent power producer and as a service provider for captive power producers under the Solarism brand. NTPC and its group entities focus on bulk power generation and sales. The group also operates in consultancy, project management, energy trading, oil and gas, and mining.