KPI Green Energy Secures 66.20 MW Hybrid Power Project

Key Takeaways from KPI Green Energy Project Win: 

• KPI Green Energy received a Letter of Award, on September 25, for a 66.20 MW Hybrid Power Project.
• The project falls under the CPP segment.
• The order has been bagged from M/s Sai Bandhan Infinium.
• The project will start to wind off in phases from July 2025.
• The development is a symbol that KPI Green Energy is growing within the renewable energy industry.

The order has been bagged from M/s Sai Bandhan Infinium. The project is expected to be undertaken in phases starting from July month 2025, as per the terms of the order.

The development marks an important step for KPI Green Energy as it expands its operations in the renewable energy sector.

About KPI Green Energy Limited:

KPI Green Energy Limited is the solar and hybrid division of KP Group, based out of Gujarat. The company was incorporated in February 2008. The company operates its business through different segments of the generation of solar and hybrid power. As an Independent Power Producer, the company develops, erects, owns, operates, and maintains solar and hybrid power plants. It also offers services to Captive Power Producers (CPP) under the banner name ‘Solarism’.

Key Takeaways

• C.S. Verma was appointed as Chairman of SML Isuzu Limited, succeeding S.K. Tuteja.
• Verma has over 40 years of experience having led major companies like SAIL and NMDC.
• Recognised for excellence in corporate leadership, Verma’s appointment is expected to drive growth and innovation at SML Isuzu.

Mr. Verma has extensive experience spanning four decades, with major roles in various industries, including Chairman and Managing Director (CMD) of the Steel Authority of India Limited (SAIL) from 2010-2015. He has also served as the Chairman at National Mineral Development Corporation (NMDC) and International Coal Ventures Ltd (ICVL)

He has won prestigious awards, including the 'CEO of the Year' award at the Platts Global Metals Awards and the SCOPE Award for Excellence in Public Sector Management. The company is motivated that he will leverage his experience and vision to take SML Isuzu to new heights.

About SML Isuzu Limited

SML Isuzu Limited, originally known as Swaraj Mazda Limited, was established in July 1983 in Punjab to manufacture light commercial vehicles (LCVs). The company began its commercial operations in 1986. Currently, Sumitomo Corporation of Japan, the company’s promoter, holds a 44% stake, while Isuzu Motors, Japan, holds a 15% stake as the technical partner. SML Isuzu produces a variety of commercial vehicles, including buses, trucks, and specialised vehicles such as ambulances, tippers, police vans, and water tankers.  

Key Takeaways from Coromandel International’s Stake Acquisition:

• Coromandel International announced its plan to acquire a further 8.82% equity stake in Baobab Mining and Chemicals Corporation (BMCC) of Senegal.
• This deal would increase Coromandel's total shareholding in BMCC to 53.8%.
• It will invest USD 3.84 million (INR 32 crores), and will provide a loan of USD 6.5 million (INR 54 crores) for expansion projects and working capital.
• Earlier, Coromandel acquired a 45% equity stake in BMCC in September of 2022 to stabilise mining operations and initiating the construction of a processing plant for rock production optimisation.

The company plans to invest USD 3.84 million (INR 32 crores) and provide a loan of USD 6.5 million (INR 54 crores) to support expansion projects and working capital needs.

Rock phosphate is used to produce phosphoric acid, which in turn is used in fertilisers. BMCC is a company that started operations in 2011 and obtained permission to process phosphate ore. 

In September 2022, the company Coromandel acquired a 45% stake in BMCC, this stabilised the mines and initiated the setting up of a processing plant to optimise rock production.

S Sankarasubramanian, Managing Director & CEO of Coromandel International said, “With India importing majority of its rock requirement, investment in rock phosphate mines will be critical for attaining long term supply security for its phosphate fertiliser production. The Senegal rock is currently being blended at Coromandel’s Visakhapatnam unit along with other rock sources thereby providing us operational flexibility.”

About Coromandel International Limited:

Coromandel International Limited is an agri-solutions major in India, that operates under two main segments - Nutrient and Allied Businesses and Crop Protection. It is a leading manufacturer and marketer of phosphatic fertilisers in India and manufactures an entire range of products including fertilisers, crop protection products, and organic products. The company has 18 manufacturing facilities across the country and runs over 750 retail outlets catering to nearly 3 million farmers.

Key Takeaways from the Appointment

• C.S. Verma appointed as Chairman of SML Isuzu Limited, succeeding S.K. Tuteja.
• Verma has over 40 years of experience having led major companies like SAIL and NMDC.
• Recognised for excellence in corporate leadership, Verma’s appointment is expected to drive growth and innovation at SML Isuzu.

Mr. Verma has extensive experience spanning four decades, with major roles in various industries, including Chairman and Managing Director (CMD) of the Steel Authority of India Limited (SAIL) from 2010-2015. He has also served as the Chairman at National Mineral Development Corporation (NMDC) and International Coal Ventures Ltd (ICVL), and as Director (Finance) at BHEL.

He has won prestigious awards, including the 'CEO of the Year' award at the Platts Global Metals Awards and the SCOPE Award for Excellence in Public Sector Management. The company is motivated that he will leverage his experience and vision to take SML Isuzu to new heights.

About SML Isuzu Limited

SML Isuzu Limited, originally known as Swaraj Mazda Limited, was established in July 1983 in Punjab to manufacture light commercial vehicles (LCVs). The company began its commercial operations in 1986. Currently, Sumitomo Corporation of Japan, the company’s promoter, holds a 44% stake, while Isuzu Motors, Japan, holds a 15% stake as the technical partner. SML Isuzu produces a variety of commercial vehicles, including buses, trucks, and specialised vehicles such as ambulances, tippers, police vans, and water tankers.