KPI Green Energy Limited has received a significant boost to its renewable energy portfolio with the receipt of a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of 150 MW grid-connected wind power projects. The LOI, dated July 14, 2025, was issued following the company’s successful participation in GUVNL’s competitive bidding process under “RfS No. GUVNL / 250 MW / Wind (Phase IX)” launched on January 18, 2025.

This major win came after a competitive reverse e-auction conducted on April 22, 2025, where KPI Green Energy emerged as one of the top bidders. The tender was designed for the procurement of 250 MW of grid-connected wind power, with an additional greenshoe option of up to 250 MW, reflecting the state’s commitment to expanding renewable energy deployment.

The 150 MW capacity allocation secured by KPI Green will be developed in accordance with the terms of the RfS, and the Power Purchase Agreement (PPA) with GUVNL will be executed upon receiving necessary regulatory approvals from the Gujarat Electricity Regulatory Commission (GERC).

This project is a substantial step forward in KPI Green’s journey toward its ambitious 2030 target of 10 GW total capacity, marking a new milestone in its clean energy expansion strategy. The LOI also reinforces the company’s growing credibility in the Indian renewable energy landscape and underscores the technical and financial strength required to win such large-scale competitive contracts.

KPI Green Energy views this win not just as a business opportunity but as a validation of its long-term commitment to building sustainable, utility-scale wind energy infrastructure that aligns with India’s decarbonization goals. The company continues to play a key role in advancing clean energy solutions that deliver both economic value and environmental impact.

This domestic contract does not involve any related-party transactions, and neither the promoter nor promoter group holds any interest in GUVNL, maintaining full independence and transparency in the bidding and award process.

Further details regarding project location, construction timeline, and PPA terms will be disclosed upon execution of definitive agreements and regulatory clearance.

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