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KPI Green Energy to acquire 2 wind assets of Saudi co. Alfanar in Gujarat for Rs.2,410-Cr
Source Economic Times (opens in a new tab)BSE Announcement (opens in a new tab)
Surat-based, publicly listed KPI Green Energy Ltd is to acquire 100% of the equity of Alfanar Energy Pvt Ltd (AEPL) and Netra Wind Pvt Ltd (NWPL) at an enterprise value of INR 2,410 crore. Together, the two companies own 507.9 MW of operational wind projects at Bhuj, in Gujarat’s Kutch wind corridor.AEPL holds 301.4 MW of this capacity, while NWPL holds 206.5 MW. Both portfolios possess 25-year power purchase agreements with the Solar Energy Corporation of India, with about 21 years of contracted life remaining on a capacity-weighted basis.AEPL and NWPL are Indian units of Riyadh, Saudi Arabia-headquartered electrical and renewable energy conglomerate Alfanar .