KPI Green Energy has secured a 150 MW wind power project from Gujarat Urja Vikas Nigam Ltd (GUVNL) under its Phase IX tender, representing a substantial addition to its renewable energy portfolio and supporting its goal of reaching 10 GW capacity by 2030. The Letter of Intent has been received, with the Power Purchase Agreement pending approval from the Gujarat Electricity Regulatory Commission (GERC).

Part of a 250 MW tender with an additional 250 MW greenshoe option, the GUVNL auction saw KPI Green emerge as one of the key winners. The awarded project, valued at approximately Rs 12.5 billion, will be developed in Gujarat, reinforcing the state’s role as a renewable energy frontrunner.

The project will contribute to the national goal of achieving 500 GW of non-fossil fuel energy capacity by 2030 and marks a milestone in KPI Green’s ability to succeed in competitive auctions.

Investor sentiment responded positively following the announcement, reflecting market confidence in KPI Green’s ability to execute large-scale clean energy projects. Once the PPA is executed post-GERC approval, the project’s development phase will officially begin.