KP Energy on Monday announced the execution of a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam for the development of a 100 MW grid-connected wind power project.
The PPA follows a letter of intent issued by Gujarat Urja Vikas Nigam Ltd (GUVNL) on March 30, 2026, awarded through a tariff-based competitive bidding process under GUVNL’s Wind Tender Phase X, and has since received approval from the Gujarat Electricity Regulatory Commission (GERC) for the tariff and PPA terms, the company said in a statement.
“This agreement with GUVNL is an important step forward for KP Energy Limited. It takes our IPP (independent power producer) portfolio past the 250 MW mark and reflects the confidence that India’s leading power utilities continue to place in us. We remain committed to supporting the country’s renewable energy transition through reliable, long-term wind power capacity,” said Faruk G Patel, Chairman & Managing Director, KP Group.
Under the terms of the agreement, the project involves an aggregate capacity of 100 MW at an approved tariff of ₹3.435 per unit, with the PPA running for 25 years.
The scheduled commencement of supply is set for July 30, 2028, which is 24 months from the date of execution of the PPA.
The contract has been awarded by a domestic entity and is a purely commercial arrangement. The company said that it does not fall within the scope of related-party transactions, nor do the promoters or promoter group have any interest in the awarding entity.
With this agreement, KP Energy’s cumulative IPP portfolio now exceeds 250 MW, marking another milestone in the company’s growth as a renewable energy developer in India.
Published on August 4, 2026
