KPI Green Energy to Acquire 507.9 MW Operational Wind Capacity in Gujarat for ₹2,410 Crore
KPI Green Energy enters a binding offer to acquire 507.9 MW of operational wind capacity in Gujarat for ₹2,410 crore. The acquisition of Alfanar Energy Private Limited and Netra Wind Private Limited will increase KPI Green's IPP capacity to approximately 1.67 GW. The deal is expected to close by February 28, 2027.
The acquisition of over 500 MW of operational wind capacity is a material event that will significantly increase the company's scale and market presence in the renewable energy sector.
The announcement details a significant acquisition that will expand the company's operational capacity and revenue streams, which is a positive development.
KPI Green Energy Limited has signed a binding offer to acquire 100% of the equity of Alfanar Energy Private Limited (AEPL) and Netra Wind Private Limited (NWPL) for an enterprise value of approximately ₹2,410 crore. These two companies collectively own 507.9 MW of operational wind projects located in the Kutch wind corridor at Bhuj, Gujarat.
This acquisition represents a significant expansion of KPI Green's wind energy portfolio. Upon completion, the company will gain fully operational, revenue-generating assets with long-term contracted revenues. The transaction adds 301.4 MW from AEPL and 206.5 MW from NWPL, increasing KPI Green's installed Independent Power Producer (IPP) capacity from 1.16 GW to approximately 1.67 GW. The company anticipates crossing 2 GW of installed IPP capacity by the end of the current year.
The acquired wind projects have long-term power purchase agreements with Solar Energy Corporation of India (SECI), a Government of India enterprise, with approximately 21 years of remaining contracted life on a capacity-weighted basis. AEPL was commissioned in March 2021, and NWPL in March 2024.
The completion of the transaction is contingent upon the execution of definitive documents and the satisfaction or waiver of customary conditions precedent, including lender, contractual, and regulatory approvals. The deal is expected to close by February 28, 2027.
Dr. Faruk Patel, Chairman & Managing Director of KPI Green Energy, stated that this acquisition is a defining moment, marking their first large-scale acquisition and their entry into wind energy. He highlighted that the acquired capacity will add revenue-generating assets with long-term contracted cash flows to their platform.
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KPI Green Energy Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by KPI Green Energy Limited. Read the original for the full detail.