KPI Green Energy (NSE:KPIGREEN, BOM:542323) has received a letter of intent for a contract of an undisclosed amount from Gujarat Urja Vikas Nigam, according to a Tuesday filing to the Indian bourses.
The contract is for the development of 150 MW grid-connected wind power projects.
The company will execute a power purchase agreement with GUVNL after securing the required approval from the Gujarat Electricity Regulatory Commission (GERC).
GUVNL had floated a tender was for the development of 250 MW grid connected wind power projects, with a greenshoe option of additional capacity up to 250 MW, and the company emerged as the successful bidder for a capacity allocation of 150 MW under the project.
The company's shares were up 3% in recent trade.
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