KPI Green Energy Ltd., the renewable energy arm of KP Group, has announced that it has received a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Ltd. (GUVNL) to develop 150 megawatts (MW) of wind power capacity in the state of Gujarat. The development marks a significant step in the company’s continued expansion within India’s clean energy sector.

Project Overview

The proposed wind power installations will be developed under the terms outlined in the LoI issued by GUVNL. KPI Green Energy will enter into a long-term Power Purchase Agreement (PPA) with the state utility following regulatory approval. The company stated that the PPA will be executed upon clearance from the Gujarat Electricity Regulatory Commission (GERC).

According to the company’s filing with the stock exchange on July 15, 2025, the awarded capacity will strengthen its portfolio and contribute to Gujarat’s growing renewable energy targets.

Company Profile

KPI Green Energy serves as the solar and hybrid energy vertical of KP Group, and has actively expanded its presence in India’s renewable energy market. The company has also established a Special Purpose Vehicle (SPV) to manage and execute large-scale green energy projects, demonstrating a strategic shift toward integrated clean power development.

Regulatory Path Ahead

The progression of the 150 MW project is contingent upon GERC approval, which is required prior to finalizing the PPA. Such approvals are a routine component of utility-scale project development in India and are critical to achieving commercial operation timelines.

Strategic Context

This LoI award reflects KPI Green Energy’s continued alignment with both state and national renewable energy goals. With Gujarat aggressively pursuing clean energy expansion, the project is expected to support broader decarbonization efforts and enhance grid stability through diversified renewable sources.