KPI Green Energy has received the Letter of Intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) for the development of 150 MW grid connected Wind Power Projects. The Power Purchase Agreement (PPA) with GUVNL shall be executed upon obtaining the requisite approval from the Gujarat Electricity Regulatory Commission (GERC).

The above LOI has been awarded pursuant to the Company's participation in the competitive bidding process initiated by GUVNL under “Procurement of power through competitive bidding process vide RfS No. GUVNL / 250 MW / Wind (Phase IX),” issued on January 18, 2025. This was followed by a reverse e-auction held on April 22, 2025. The tender was for the development of 250 MW Grid Connected Wind Power Projects, with Greenshoe option of additional capacity up to 250 MW. The Company emerged as the successful bidder in the tender, securing a capacity allocation of 150 MW under the project.