KPI Green Energy Limited , a leading renewable power producer, has entered into a strategic partnership with Inox Solar Limited to jointly develop 2.5 GW of solar and hybrid renewable energy projects across multiple states in India. This collaboration marks a significant step towards expanding India's renewable energy capacity and supporting the country's clean energy transition.

Key Partnership Details

The Memorandum of Understanding (MoU) between KPI Green Energy and Inox Solar, a part of the INOXGFL Group, outlines the following responsibilities:

KPI Green Energy's Role

• Project development
• Land acquisition
• Statutory approvals
• EPC (Engineering, Procurement, and Construction) works

Inox Solar's Role

• Supplying solar modules
• Providing commissioning services

This strategic alliance leverages the strengths of both companies, combining KPI Green Energy's project development expertise with Inox Solar's manufacturing capabilities.

Impact on India's Renewable Energy Sector

The partnership between KPI Green Energy and Inox Solar is poised to make a significant contribution to India's renewable energy goals. With a target of 2.5 GW, this collaboration may help accelerate the country's progress towards its ambitious renewable energy targets.

Dr. Faruk G. Patel, Chairman and Managing Director of KPI Green Energy, commented on the partnership: "This collaboration underscores KPI's commitment to building large-scale, integrated renewable energy assets across India. By combining our strong development capabilities, EPC expertise, and proven execution framework with Inox Solar's robust Solar Technology and manufacturing strengths, we are establishing a powerful platform for delivering high-quality solar and hybrid energy projects."

Mr. Kailash Tarachandani, Group CEO Renewables of INOXGFL Group, added: "The synergy between Inox Solar's engineering depth, manufacturing excellence and product reliability, and KPI's on-ground development prowess positions both companies to undertake large-scale renewable projects with confidence."

Looking Ahead

As India continues to push for greater adoption of renewable energy, partnerships like the one between KPI Green Energy and Inox Solar may play a crucial role in meeting the country's clean energy objectives. The collaboration is expected to not only boost the renewable energy capacity but also contribute to job creation and technological advancement in the sector.

With the combined expertise and resources of both companies, this partnership is well-positioned to deliver efficient, high-quality renewable energy projects that will help power India's sustainable future.

KPI Green Energy Limited (ISIN: INE542W01025) has reported strong financial results for the second quarter of fiscal year 2026, demonstrating significant growth across key metrics.

Financial Highlights

The company's performance for Q2 FY26 showcases impressive year-on-year growth:

• Total revenue increased by 78% to INR 641.10 crores, up from INR 361.40 crores in Q2 FY25
• EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) grew by 73% to INR 232.40 crores
• Profit Before Tax (PBT) rose by 63.4% to INR 158.00 crores
• Profit After Tax (PAT) expanded by 67% to INR 117.00 crores

For the first half of FY26, KPI Green Energy reported:

• Total revenue of INR 1,255.26 crores, a 76.5% increase from the same period last year
• EBITDA of INR 449.30 crores, up 68%
• PBT and PAT growth of 63.9% and 67.7% respectively

Strategic Financing Initiatives

KPI Green Energy has successfully secured significant financing to support its growth:

1. The company issued India's first externally credit-enhanced green bond of INR 670.00 crores, backed by a 65% guarantee from GuarantCo. The bonds were rated AA+(CE) by CRISIL and ICRA and are listed on the National Stock Exchange.

2. A major milestone was achieved with a INR 3,200.00 crores term loan sanction from State Bank of India's Project Finance Unit. This financing will support the development of a 250-megawatt solar project and a 370-megawatt hybrid project under a long-term Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL).

Operational Progress

The company reported steady progress in project execution:

• The 250-megawatt solar and 370-megawatt hybrid projects are advancing as scheduled, with partial commissioning expected in the coming quarters.
• These projects, along with 150-megawatt wind projects, represent nearly INR 5,500.00 crores in capital expenditure.
• Upon commissioning, these projects are expected to contribute to revenue and cash flows in the upcoming financial years.

Order Book and New Wins

KPI Green Energy has secured several new projects, strengthening its order book:

• 200-megawatt solar project with SJVN
• 96-megawatt Balance of System (BoS) for Aditya Birla Renewables
• 100-megawatt repeat order from Avichal Power

The company has also obtained a Category A Power Trading License, positioning it to capture new opportunities in the open-access and energy trading space.

Strategic Partnerships and Future-Ready Technologies

KPI Green Energy is expanding into emerging technologies through strategic partnerships:

• Signed a Memorandum of Understanding (MoU) with Delta Electronics India for collaboration on battery energy storage systems, green hydrogen, and EV charging infrastructure.
• Formed a green ammonia joint venture with AHES Korea and GH2 Solar India.

Management Commentary

Salim Yahoo, Chief Financial Officer of KPI Green Energy, stated, "We have once again delivered a remarkable performance, achieving our sixth consecutive quarter of record revenue and profitability. This consistent upward trajectory underscores the robustness of our business model and our focused execution strategy."

Outlook

With a strong order book, strategic financing in place, and expansion into future-ready technologies, KPI Green Energy is well-positioned for continued growth. The company remains focused on executing its project pipeline efficiently, maintaining financial discipline, and delivering consistent returns to stakeholders.

As the renewable energy sector in India continues to expand towards the government's target of 500 gigawatts by 2030, KPI Green Energy is poised to play a significant role in this growth story.