KPI Green Energy , a subsidiary of the KP Group, has announced a significant international collaboration to advance global green hydrogen efforts. The company, through its arm KPI Green Hydrogen & Ammonia, has signed a Memorandum of Understanding (MOU) with Jeonbuk Special Self-Governing Province in South Korea, along with energy leaders GH2 Solar Limited and AHES Co., Ltd.

Key Focus Areas of the Partnership

The strategic partnership aims to boost green hydrogen development initiatives on an international scale. The collaboration will focus on:

1. Technology exchange in water electrolysis and hydrogen facilities
2. Joint development of large-scale green hydrogen projects
3. Expansion of the green hydrogen market across India and international geographies

Strategic Significance

This partnership marks a pivotal step in strengthening international cooperation for clean energy, particularly in the emerging global green hydrogen sector. For KP Group, with its secured renewable portfolio of over 6 GW including solar, wind, and hybrid assets, this collaboration presents a unique opportunity to scale up green hydrogen and ammonia production in India and beyond.

Dr. Faruk G. Patel, Chairman & Managing Director of KP Group, commented on the partnership: "This agreement is a synergy of vision and execution. By combining the advanced technological expertise of our Korean partners with India's vast market opportunities and KP Group's proven strength in renewable execution, we are accelerating the global shift towards a sustainable hydrogen economy. This aligns perfectly with our 'Vision Forward' strategy and India's clean energy transition goals."

Benefits for Both Parties

For KP Group

• Enhance competitiveness in global green hydrogen markets
• Generate employment opportunities across India and Korea
• Strengthen KP Group's leadership in renewable energy and green fuels

For Jeonbuk Province

• Serve as a catalyst for boosting its local hydrogen companies in overseas markets
• Support youth employment and research
• Revitalize the regional economy through hydrogen ecosystem expansion

His Excellency Kim Kwan-young, Governor of Jeonbuk Province, remarked: "This agreement is a cooperation model that combines the technology of Jeonbuk hydrogen companies with India's capital and market, and it will be an important opportunity for Korean companies to leap into the global market."

About KP Group

Established in 1994 by Dr. Faruk G. Patel, KP Group has grown into a multi-faceted conglomerate with core expertise in renewable energy, infrastructure, and innovation. The group has championed sustainability by spearheading transformative projects in wind and solar energy, contributing significantly to India's green energy mission.

This partnership underscores KPI Green Energy's commitment to shaping a sustainable future by delivering innovative renewable energy and infrastructure solutions for the development of green hydrogen and ammonia projects. As the global focus on clean energy intensifies, this collaboration positions KPI Green Energy at the forefront of the green hydrogen revolution, potentially driving significant growth and innovation in the sector.

KPI Green Energy Limited , a prominent player in the renewable energy sector, has taken a significant step towards diversifying its business operations. At the company's 17th Annual General Meeting (AGM) held on September 26, shareholders overwhelmingly approved alterations to the Main Object Clause of the company's Memorandum of Association, paving the way for an expanded business scope.

Expanded Business Scope

The amended clause broadens KPI Green Energy's operational purview to include:

• Establishing, generating, storing, and distributing various forms of electricity and power
• Utilizing multiple sources such as thermal, hydro, nuclear, solar, wind, hybrid, geo-thermal, tidal, and biomass
• Incorporating Battery Energy Storage Systems (BESS) and other energy storage technologies
• Developing and operating associated infrastructure

This strategic move allows the company to engage in manufacturing, trading, joint ventures, partnerships, and other allied activities related to both conventional and renewable energy sources, both in India and abroad.

Shareholder Approval and Voting Results

The resolution to alter the Object Clause received overwhelming support from shareholders. According to the voting results:

This strong backing demonstrates shareholders' confidence in the company's strategic direction and growth plans.

Other Key Resolutions

In addition to the alteration of the Object Clause, several other important resolutions were passed at the AGM:

1. Adoption of audited financial statements for the fiscal year ended March 31
2. Confirmation of interim dividends totaling 12% (₹0.60 per equity share)
3. Declaration of a final dividend of 4% (₹0.20 per equity share)
4. Reappointment of Mr. Mohmed Sohil Yusufbhai Dabhoya as a Director
5. Appointment of M/s Chirag Shah & Associates as Secretarial Auditors for a five-year term
6. Increase in the company's borrowing powers
7. Expansion of limits for selling, leasing, or disposing of company assets
8. Increase in limits for loans and investments

Financial Performance

While specific financial details were not provided, the approval of dividends suggests a positive financial performance for the fiscal year. The total dividend payout of 16% (including interim and final dividends) indicates the company's commitment to shareholder returns.

Looking Ahead

The expansion of KPI Green Energy's business scope positions the company to capitalize on the growing demand for diverse energy solutions. By venturing into various forms of power generation and storage technologies, the company is poised to play a more significant role in India's evolving energy landscape.

As the renewable energy sector continues to grow, KPI Green Energy's strategic diversification could lead to new opportunities for growth and value creation. Investors and industry observers will be keen to see how the company leverages its expanded mandate in the coming years.