KPI Green Energy Limited has informed the Exchange regarding 'receiving of receipt of LOI from GUVNL for the development of 150 MW grid-connected Wind Power Projects. The Detailed disclosure is attached herewith.'.
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KPI Green Energy has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) to develop 150 MW grid-connected Wind Power Projects. The company won the allocation through a competitive reverse e-auction held on April 22, 2025, under GUVNL's 250 MW Wind Phase IX tender, which had a greenshoe option for an additional 250 MW. The Power Purchase Agreement will be signed after approval from the Gujarat Electricity Regulatory Commission (GERC). The order is from a domestic government entity, has no related-party involvement, and supports KPI Green's target of reaching 10 GW capacity by 2030.
This is a significant new order win for KPI Green Energy from a state government-backed utility, reinforcing its order pipeline and progress toward its 10 GW by 2030 capacity goal. Positively signals business momentum, though actual revenue impact depends on execution timelines and tariff terms yet to be disclosed.