Shares of KPI Green Energy Ltd gained over 4% on Wednesday following the company's announcement of a binding offer to acquire 100% equity in Alfanar Energy Private Limited (AEPL) and Netra Wind Private Limited (NWPL). As per LiveMint, the stock opened at ₹382.80 on the BSE, touched an intraday high of ₹386.30, and an intraday low of ₹363.50 before slipping into the red zone. The positive market reaction reflects investor confidence in the company's strategic expansion into the wind energy sector, with the stock demonstrating strong momentum before experiencing some profit-taking pressure.
KPI Green Energy has announced a ₹2,410 crore acquisition of 100% equity in Alfanar Energy Private Limited (AEPL) and Netra Wind Private Limited (NWPL), marking its first major deal at this scale and its first acquisition in the wind segment. The two companies own a combined 507.9 MW of operational wind capacity at Bhuj in Gujarat's Kutch wind corridor, with AEPL holding 301.4 MW and NWPL holding 206.5 MW. The portfolio sells power to the Solar Energy Corporation of India (SECI) under 25-year power purchase agreements (PPAs) with projects commissioned in March 2021 and March 2024, giving the combined portfolio around 21 years of remaining contracted life. As per LiveMint, the transaction marks the company's first acquisition at this scale and its first in the wind segment.
According to the company's exchange filing, the transaction marks a significant step-up in KPI's wind presence, bringing fully operational, revenue-generating assets with long-term contracted revenues onto the company's balance sheet. The acquisition adds scale immediately without construction or commissioning risk, positioning the company to cross 2 GW of installed IPP capacity by the end of the year. Upon completion, KPI Green's installed IPP capacity is expected to increase from 1.16 GW to around 1.67 GW. This follows the 500 MW / 550 MWp solar PV power project worth ₹2,025 crore that KPI Green Energy secured from NACOF Oorja Private Ltd (NOPL) for a 5,000 MW Solar Photovoltaic Power Park in Bikaner, Rajasthan.
Dr Faruk Patel, Chairman and Managing Director of KPI Green Energy, described the acquisition as a 'defining moment for KPI Green' that marks the company's first acquisition at this scale and its first in the wind segment. As per LiveMint, Patel emphasized that the transaction will bring 507.9 MW of operational, SECI-contracted capacity onto KPI Green's platform from day one, strengthening its presence in Gujarat's Kutch wind corridor. He noted that the acquisition will bring a portfolio of revenue-generating assets with long-term contracted cash flows, marking an important milestone as KPI Green continues to expand its own portfolio as a long-term developer and independent power producer. Sunny Agrawal, Deputy Vice President – Fundamental Research at SBI Securities, remains positive on KPI Green Energy and has set a target price of ₹426, highlighting the company's robust ₹5,000 crore CPP order book and 1.6 GW of unexecuted IPP pipeline as key growth drivers.
The wind acquisition is subject to execution of definitive transaction documents and satisfaction of customary conditions precedent, including lender, contractual and regulatory approvals. The transaction is expected to close by February 28, 2027. As per LiveMint, the deal is expected to close by 28 February 2027, with the completion subject to the execution of definitive transaction documents and the satisfaction or waiver of customary conditions precedent, including lender, contractual and regulatory approvals.
