New Delhi, Sept. 30 -- KPI Green Energy shares rose around 4% on Wednesday, 30 September, before slipping into the red zone. The company announced that it has signed a binding offer to acquire 100% equity in Alfanar Energy Private Limited (AEPL) and Netra Wind Private Limited (NWPL) at an enterprise value of approximately Rs.2,410 crore.

Together, AEPL and NWPL own 507.9 MW of operational wind projects at Bhuj in Gujarat's Kutch wind corridor. Upon completion, the acquisition will significantly expand KPI Green Energy's wind portfolio and add operational, revenue-generating assets to its balance sheet, without construction or commissioning risks.

The portfolio comprises 301.4 MW held by AEPL and 206.5 MW by NWPL. Both companies sell pow...