KPI Green Energy Limited (“KPI Green” or “the Company”) has entered into a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 150 MW grid-connected wind power project in Gujarat. This agreement 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 of the tariff and PPA by the Gujarat Electricity Regulatory Commission (GERC).
Under the terms of the agreement, the project will commence power supply on November 3, 2027, at a fixed tariff of ₹3.64 per unit for a period of 25 years. The PPA marks another milestone in KPI Green’s journey as a key player in India’s renewable energy landscape, reinforcing its execution excellence in utility-scale renewable projects and expanding its wind energy portfolio.
The project supports the company’s roadmap to achieve 10 GW of installed renewable capacity by 2030. The long-term tariff structure and robust payment security provisions under the PPA provide predictable cash flows and financial stability, enhancing value for shareholders and other stakeholders.
Dr Faruk G Patel, Chairman and Managing Director, said “We are proud to finalize this 150 MW Wind Power PPA with GUVNL. This achievement underscores our consistent success in competitive renewable bids and reaffirms our commitment to advancing India’s clean energy transition. Each milestone like this brings us closer to our goal of achieving 10 GW of installed renewable capacity by 2030.”
With this agreement, KPI Green Energy Limited continues to strengthen its position as an integrated renewable energy enterprise, contributing significantly to India’s renewable energy vision and Gujarat’s sustainability targets. Founded in 1994 by Dr Faruk G Patel, KP Group has evolved into a diversified conglomerate with a strong presence across renewable energy, infrastructure, and innovation.
Over the past three decades, the group has delivered landmark projects in solar, wind, hybrid power, Battery Energy Storage Systems (BESS), and green hydrogen, driving India’s green energy mission forward. With its growing renewable portfolio and commitment to sustainable development, KP Group has established itself as a trusted partner for industries pursuing decarbonization and continues to set new benchmarks in the renewable energy sector.
