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On completion, KPI Green's installed independent power producer (IPP) capacity will increase from 1.16 gigawatts (GW) to approximately 1.67 GW. The company said the addition will position it to cross 2 GW of installed IPP capacity by the end of the year. 2 Min Read KPI Green Energy Ltd. 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, the company said in an exchange filing on Wednesday, September 30. The two companies own a combined 507.9 megawatts (MW) of operational wind capacity at Bhuj in Gujarat's Kutch wind corridor, with AEPL holding 301.4 MW and NWPL holding 206.5 MW.
The acquisition will mark KPI Green's first deal at this scale and its first acquisition in the wind segment. The portfolio sells power to the Solar Energy Corporation of India (SECI) under 25-year power purchase agreements (PPAs). AEPL's projects were commissioned in March 2021 and NWPL's in March 2024, giving the combined portfolio around 21 years of remaining contracted life on a capacity-weighted basis.
Calling it a "defining moment" for KPI Green, Dr Faruk Patel, Chairman & Managing Director, said, "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." He added that the acquisition will strengthen KPI Green's presence in the Kutch wind corridor and add revenue-generating assets with long-term contracted cash flows. Also read: The latest market fall has made at least seven stocks attractive, says Deven Choksey Installed IPP capacity to rise to 1.67 GW On completion, KPI Green's installed independent power producer (IPP) capacity will increase from 1.16 gigawatts (GW) to approximately 1.67 GW. The company said the addition will position it to cross 2 GW of installed IPP capacity by the end of the year.
The company said the acquisition will bring fully operational, revenue-generating assets onto its balance sheet, allowing it to add capacity without construction or commissioning risk. Patel said the deal is an important milestone as KPI Green continues to build its portfolio as a long-term developer and independent power producer. The transaction is subject to execution of definitive transaction documents and customary conditions precedent, including lender, contractual and regulatory approvals.
KPI Green expects the acquisition to close by February 28, 2027. KPI Green shares also gained after the company had announced bagging a ₹2,025 crore EPC order for a 500 MW solar project in Rajasthan. The order was awarded by NACOF Oorja.
Shares of KPI Green are trading 1.4% higher at ₹376.4. The stock is up for the fourth straight day and is down 22.5% so far this year. Home Market News KPI Green Energy shares gain for fourth straight day; Announces ₹2,410 crore acquisition
Source: CNBC TV18
