KPI Green Energy to Acquire 507.9 MW Operational Wind Projects in Gujarat

KPI Green Energy Limited has signed a binding offer to acquire 100% equity in Alfanar Energy Private Limited (AEPL) and Netra Wind Private Limited (NWPL) at an enterprise value of approximately ₹2,410 crore.

AEPL and NWPL own 301.4 MW and 206.5 MW of operational wind projects, respectively, at Bhuj in Gujarat’s Kutch wind corridor. The combined 507.9 MW portfolio supplies power to the Solar Energy Corporation of India (SECI) under 25-year power purchase agreements.

Upon completion, KPI Green’s installed IPP capacity is expected to increase from 1.16 GW to approximately 1.67 GW. The transaction is subject to definitive agreements and applicable lender, contractual and regulatory approvals, with completion expected by 28 February 2027.

Dr. Faruk Patel, Chairman & Managing Director, said, “This is a defining moment for KPI Green. It will be our first acquisition at this scale and our first in wind, and upon completion bringing 507.9 MW of operational, SECI-contracted capacity onto our platform from day one. The acquisition strengthens our presence in Gujarat’s Kutch wind corridor and upon completion, adds a portfolio of revenue-generating assets with long-term contracted cash flows. As we continue to build our own portfolio as a long-term developer and independent power producer, this transaction marks an important milestone in our growth journey.”

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