KPI Green Energy to acquire 100% stake in Alfanar Energy and Netra Wind

At an enterprice value of Rs 2,410 cr

KPI Green Energy has signed a binding offer to acquire 100% of the equity of Alfanar Energy (AEPL) and Netra Wind (NWPL), at an enterprise value of approximately Rs 2,410 crore. Together, the two companies own 507.9 MW of operational wind projects at Bhuj, in Gujarat's Kutch wind corridor.

Commenting on the development, 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.?