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KPI Green Energy signs binding offer to acquire wind assets worth ₹2,410 crore
The deal targets 507.9 MW of operational wind projects in Gujarat’s Kutch corridor, with contracted power sales to SECI under 25-year PPA terms.
KPI Green Energy said its shares rose about 4% on Wednesday, September 30, after the company announced it signed a binding offer to acquire 100% equity in Alfanar Energy Private Limited and Netra Wind Private Limited at an enterprise value of about ₹2,410 crore, before the stock later slipped.
According to the company, AEPL and NWPL jointly own 507.9 MW of operational wind projects at Bhuj in Gujarat’s Kutch wind corridor, with AEPL contributing 301.4 MW and NWPL 206.5 MW.
KPI Green Energy also said the projects sell power to the Solar Energy Corporation of India under 25-year power purchase agreements, with AEPL projects commissioned in March 2021 and NWPL projects commissioned in March 2024.
The combined portfolio is described as having about 21 years of remaining contracted life on a capacity-weighted basis, supporting the company’s expectation of long-term contracted revenues, per LiveMint Markets.