KP Group signed a Memorandum of Understanding with the Government of Gujarat for developing renewable energy projects worth approximately ₹4,000 crore in the State. The agreement was finalised at Marwadi University, Rajkot, during the Vibrant Gujarat Regional Conference.
The MoU outlines plans for renewable energy projects with an aggregate capacity of around 855 MW across multiple Gujarat locations, including Devbhumi Dwarka and Kutch. The projects comprise both solar power installations and ISTS-connected wind-solar hybrid facilities.
The proposed development includes a 200 MW solar power project under the DREBP scheme and captive user segment, a 405 MW solar power project, a 100 MW ISTS-connected wind-solar hybrid power project, and a 150 MW ISTS-connected wind-solar hybrid power project.
The investment is expected to generate employment for over 4,000 people. Implementation will proceed in phases, subject to obtaining necessary statutory approvals and clearances from relevant authorities.
Under the agreement, the Gujarat government will facilitate KP Group in securing required permissions, registrations, and approvals from state authorities in accordance with applicable regulations.
Founded in 1994 by Dr Faruk G. Patel, KP Group operates across renewable energy, infrastructure, and innovation sectors. The conglomerate has developed projects in wind, solar, hybrid energy, battery energy storage systems, and green hydrogen over three decades.
The shares of KP Energy Ltd were trading at ₹319.25 up by ₹1.25 or 0.39 per cent and those of KPI Green Energy Ltd were trading at ₹450 up by ₹8.55 or 1.94 per cent on the NSE today at 1.05 pm.