KPI Green Energy Acquires 507.9 MW Operational Wind Portfolio in Gujarat from Alfanar Group for ~Rs 2,410 Crore
KPI Green Energy has agreed to acquire 507.9 MW of operational wind assets in Gujarat, India from Saudi Arabia-based Alfanar Group for an enterprise value of approximately Rs 2,410 crore. The portfolio comprises 301.4 MW held by Alfanar Energy and 206.5 MW by Netra Wind, both backed by long-term SECI PPAs with approximately 21 years remaining. The transaction is expected to close by 28 February 2027.
Transaction date: · Source: kpigreenenergy.com
Key facts
- Transaction date
- Technology
- Onshore Wind
- Capacity
- 507.9 MW
- Transaction price
- 261 million (currency as reported in the source)
- Buyer
- KPI Green Energy
- Seller
- Alfanar Group
- Country
- India
- Region
- Gujarat
- Location
- Gujarat, India
- Continent
- Asia
- Development status
- Operational
- PPA
- Yes
Technology details
507.9 MW of operational wind assets comprising two portfolios: 301.4 MW held by Alfanar Energy and 206.5 MW held by Netra Wind Power Ltd (NWPL). Both portfolios have long-term PPAs with the Solar Energy Corporation of India (SECI) with approximately 21 years of remaining contracted life on a capacity-weighted basis.
Power purchase agreement (PPA)
Both portfolios benefit from long-term Power Purchase Agreements with the Solar Energy Corporation of India (SECI), with a remaining contracted life of approximately 21 years on a capacity-weighted basis.
Additional information
Enterprise value of approximately Rs 2,410 crore (approx. EUR 261 million), equivalent to approximately Rs 4.8 crore per MW versus Rs 7.5–8 crore per MW for new-build wind. More than Rs 2,000 crore of the enterprise value comprises debt; the balance is equity. Transaction expected to close by 28 February 2027. The acquisition takes KPI Green's total operating and under-development capacity to approximately 1.6 GW. Alfanar Group is a Saudi Arabia-based company. Publication date not specified in source.
Source
Original announcement: https://www.kpigreenenergy.com/assets/news/KPI-Green-to-buy-508-MW-wind-assets-for-Rs-2410-crore.pdf