Last Updated on November 11, 2025 by Author
KPI Green Energy Limited (“KPI Green” or “the Company”) is pleased to announce the execution of a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 150 MW grid-connected wind power project in Gujarat.
This follows the Letter of Intent (LoI) issued on July 14, 2025, under GUVNL’s competitive bidding process (RfS No. GUVNL/250 MW/Wind, Phase IX) and subsequent approval from the Gujarat Electricity Regulatory Commission (GERC) for the tariff and PPA.
The project, scheduled to commence power supply on November 3, 2027, will operate under a long-term PPA with a fixed tariff of ₹3.64 per unit for 25 years. This agreement reinforces KPI Green’s proven execution capabilities in utility-scale renewable energy and further strengthens its growing presence in the wind power segment.
The PPA enhances KPI Green’s utility-scale wind portfolio and aligns with the Company’s growth trajectory toward achieving 10 GW of installed renewable capacity by 2030. The long-term fixed tariff and payment security mechanisms ensure predictable cash flows, underscoring the project’s financial stability and long-term value creation for stakeholders.
Commenting on this development, Dr. Faruk G. Patel, Chairman and Managing Director, said: “We are delighted to execute this 150 MW Wind PPA with GUVNL. The project underscores our consistent performance in competitive bidding and reinforces our commitment to accelerating India’s clean energy transition. This milestone also brings us closer to our strategic objective of achieving 10 GW of installed renewable capacity by 2030.”
With this signing, KPI Green Energy Limited continues to solidify its position as a fast-growing, integrated renewable energy company, contributing meaningfully to India’s renewable energy ambitions and Gujarat’s sustainable energy goals.
