The power purchase agreement (PPA) with GUVNL shall be executed upon obtaining the requisite approval from the Gujarat Electricity Regulatory Commission (GERC).

The company will execute the project in accordance with the terms and conditions outlined in RFS No. GUVNL/250 MW/Wind (Phase IX), issued by GUVNL on 18 January 2025, it added.

The company confirmed that none of the promoter, promoter group, or group companies has any interest in the entity that awarded the order. It further stated that the order does not fall under related party transactions.

KPI Green Energy develops, builds, owns, operates, and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name of 'Solarism.'