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KPI Green Energy shares rose 4% intraday, after the company agreed to acquire 100% of Alfanar Energy and Netra Wind, giving it full ownership of both renewable energy companies.
The deets: the company will acquire both companies for an enterprise value of ₹2,410 crore, paid in cash. The company expects to complete the deal by February 28, 2027, subject to regulatory approvals and other conditions. The transaction is not a related-party deal.
The deal will add 507.9 MW of wind power capacity to KPI Green Energy’s portfolio. Alfanar Energy owns a 301.4 MW wind project, while Netra Wind owns a 206.5 MW project.
Think of 507.9 MW as enough wind power to generate roughly 1.3 -- 1.6 billion units a year, about the annual electricity use of a mid-sized Indian city like Jaipur, Lucknow, and Nagpur.
Both assets are located in Bhuj, Gujarat.
Larger picture: India is rapidly expanding wind power as electricity demand rises and the country works towards its 500 GW non-fossil capacity target by 2030 and net-zero emissions by 2070. The Central Electricity Authority projects 93.6 GW of new wind capacity between 2022 and 2032, creating a sizable pipeline for renewable energy companies.
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