KP Energy Limited has announced the receipt of a Letter of Award from JK Paper Limited for developing a significant wind-solar hybrid power project in Gujarat. The project represents a major milestone in the company's renewable energy portfolio expansion and demonstrates its growing capabilities in the hybrid power sector.

Project Overview

The awarded project involves the development of a 91.4 MW wind-solar hybrid power project in Gujarat, to be executed on a complete turnkey basis. This comprehensive approach encompasses all aspects of project development from initial engineering to final commissioning and ongoing maintenance.

Scope of Work

The project encompasses a wide range of activities that demonstrate KP Energy's comprehensive capabilities in renewable energy project development. The scope includes:

• Engineering, procurement, installation, and commissioning of the complete project
• Development of evacuation infrastructure for seamless power transmission
• Facilitation of grid connectivity to ensure efficient power delivery
• Obtaining all necessary statutory and regulatory clearances
• Operation & maintenance services for the Balance of Plant of wind capacity
• Complete operation & maintenance for the entire installed solar capacity

Strategic Significance

The award reflects KP Energy's established execution capabilities in delivering integrated wind-solar hybrid projects. This development further strengthens the company's positioning in the renewable energy space while providing enhanced execution visibility going forward. The hybrid nature of the project showcases the company's ability to handle complex, multi-technology renewable energy installations.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that this is a domestic contract with no related party transactions involved, and there are no interests held by promoters or group companies in JK Paper Limited.

Project Timeline

The project execution will follow the timeline stipulated under the Letter of Award from JK Paper Limited. This structured approach ensures systematic development and timely completion of all project phases, from initial setup through final commissioning and handover.

KP Green Engineering Limited has officially announced through a press release under Regulation 30 that KP Group has achieved a landmark milestone by surpassing 1 GW of energised Independent Power Producer (IPP) capacity from its total IPP portfolio of 2.3 GW. This achievement marks a pivotal moment in the company's long-term growth strategy centered around IPP development.

Exceptional Growth Trajectory

The company's growth story has been remarkable, demonstrating substantial scale-up capabilities over recent years. Since FY21, when the Group operated with an energised capacity of just 58 MW, it has achieved approximately 18x growth over five years.

This scale-up reflects KP Group's strategic focus on building a high-quality, owned IPP portfolio with strong execution discipline. The momentum in FY26 has been particularly robust, with substantial capacity additions and multiple projects commissioned ahead of schedule.

Strategic Vision and Financial Backing

KP Group remains firmly committed to scaling its power generation portfolio as a core value driver. The company is progressing ahead of schedule toward its ambitious vision of achieving 10 GW total capacity by 2030 across both IPP and CPP portfolios. The current growth trajectory, supported by a robust pipeline and disciplined project delivery, positions the Group favorably to meet and potentially exceed this target.

A significant development has been the achievement of financial closure across the company's active IPP pipeline, backed by leading institutional lenders. This milestone underscores strong investor confidence and highlights the resilience and bankability of KP Group's IPP-focused business model.

Leadership Perspective

Commenting on this achievement, Dr. Faruk Patel, Founding Promoter of KP Group, emphasized the significance of this milestone: "Crossing the 1 GW energised capacity milestone is a defining moment in KP Group's journey. Our consistent focus on building a scalable and high-quality IPP platform, backed by disciplined execution, has enabled us to grow at a strong pace."

Dr. Patel further highlighted the company's commitment to future growth: "As we move forward, we remain committed to accelerating our growth and are well on track to achieve our vision of 10 GW by 2030 across IPP and CPP portfolios, while continuing to create long-term value for all our stakeholders."

Regulatory Compliance

The announcement was made through an official press release dated March 24, 2026, filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Muinulhaque Iqbalhusen Kadva, Whole Time Director, emphasizing the formal nature of this significant milestone announcement.

Company Background

Established in 1994 by Dr. Faruk G. Patel, KP Group has evolved into a multi-faceted conglomerate with core expertise in renewable energy, infrastructure, and innovation. Over three decades, the group has championed sustainability through transformative projects spanning wind energy projects, solar power installations, hybrid energy solutions, Battery Energy Storage System (BESS), and green hydrogen initiatives.

With its strong portfolio of renewable energy projects, KP Group has established itself as a trusted partner for companies committed to reducing their carbon footprint, contributing meaningfully to India's green energy mission and energy transition goals.