KPI Green Energy Limited has signed a significant Memorandum of Understanding with the Government of Gujarat for developing renewable energy projects worth ₹4,000.00 crores. The MoU was executed on January 12, 2026, at Marwadi University, Rajkot, as part of the Vibrant Gujarat Regional Conference – Investment Promotion Activity.

Project Portfolio and Capacity

Under the agreement, KPI Green Energy proposes to establish renewable energy projects with an aggregate capacity of approximately 855 MW. The portfolio comprises solar power projects and ISTS-connected wind-solar hybrid power projects across multiple locations in Gujarat, including Devbhumi Dwarika and Kutch (Bhuj).

Investment and Employment Impact

The renewable energy initiative represents a substantial investment commitment for Gujarat's clean energy sector. The total proposed investment for these projects amounts to approximately ₹4,000.00 crores, positioning it as a significant contributor to the state's renewable energy infrastructure.

Government Support and Implementation Framework

As per the MoU terms, the Government of Gujarat shall facilitate KPI Green Energy in obtaining necessary permissions, registrations, approvals and clearances from the relevant State authorities. This support will be provided in accordance with applicable policies, rules and regulations. The proposed projects are expected to be implemented in a phased manner, subject to receipt of applicable statutory approvals and clearances.

Strategic Significance

This MoU underscores KPI Green Energy's commitment to strengthening Gujarat's renewable energy ecosystem and contributing to the state's clean energy and sustainable development objectives. The agreement aligns with India's broader green energy mission and represents a significant step toward expanding renewable energy capacity in one of the country's leading industrial states.

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 the past three decades, the group has championed sustainability by spearheading transformative projects in wind, solar, hybrid energy, Battery Energy Storage System (BESS) and green hydrogen, contributing meaningfully to India's energy transition.

KPI Green Energy 's subsidiary Sun Drops Energia Private Limited has achieved a significant milestone by securing a Letter of Intent from Gujarat Urja Vikas Nigam Limited for developing standalone Battery Energy Storage System projects with an aggregate capacity of 445 MW/890 MWh. The project will be implemented across multiple locations in Gujarat state, representing a strategic expansion into the battery energy storage segment for the renewable energy company.

Project Details and Significance

The Letter of Intent was issued following a tariff-based competitive bidding process under Phase-VII, supported by Viability Gap Funding through the Power System Development Fund. This development marks two important firsts for KPI Green Energy: its maiden utility-scale IPP BESS project and its first BESS project awarded by a major government body.

Strategic Expansion into Energy Storage

Standalone Battery Energy Storage System projects are grid-connected energy storage facilities that operate independently of any specific solar or wind power plant. These systems are utilized by utilities to store electricity during off-peak periods and supply power during peak demand periods. The award underscores KPI Green Energy's expanding capabilities across emerging clean energy segments and represents a strategic addition to its existing renewable energy portfolio of solar, wind and hybrid power projects.

Regulatory Compliance and Documentation

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The project involves no related party transactions, and the promoter group has no interest in the awarding entity. The execution timeline will follow the project schedule and terms of the Battery Energy Storage Purchase Agreement.

Market Impact and Future Outlook

Standalone BESS projects of this scale are emerging as critical infrastructure for grid reliability, peak power management, and renewable energy integration. The award reflects KPI Green Energy's growing capabilities to participate in large-scale, policy-backed infrastructure projects within the evolving clean energy ecosystem. This expansion into battery energy storage systems positions the company to capitalize on the increasing demand for grid stability solutions as renewable energy penetration grows across India's power sector.