Surat, Gujarat: KP Group, a leader in the renewable energy sector, has signed a major ₹7,175 crore Memorandum of Understanding (MoU) at the Economic Master Plan event for the Surat Economic Region (G-Hub). The event was organized by Gujarat’s Department of Energy and Petrochemicals and witnessed the presence of Gujarat’s Minister Kanubhai Desai and Additional Chief Secretary S.J. Haider (IAS). KP Energy’s Whole Time Director, Affan Faruk Patel, signed the MoU on behalf of KP Group, while Director Ajay Prakash (IAS) represented the Government of Gujarat.
KP Group will implement four high-impact projects in Bharuch, including three large-scale solar and hybrid energy projects for Gujarat Urja Vikas Nigam Limited (GUVNL):
- 250 MW Solar Project
- 370 MW Hybrid (Solar-Wind) Project
- 50 MW Hybrid Project
These projects represent a total investment of ₹3,975 crore. Additionally, KP Group will set up a 50,000-tonne green ammonia production facility, powered by a 332 MW solar power project, with a total investment of ₹3,200 crore. The company aims to complete these solar and hybrid energy projects by 2025, significantly contributing to Gujarat’s renewable energy goals.
KP Group has a strong track record, having previously signed a ₹17,600 crore MoU, which is currently in progress. The group is well-represented in the market, with three publicly traded companies—KPI Green Energy, KP Energy, and KP Green Engineering Limited—boasting a combined market capitalization of ₹18,000 crore. Dr. Faruk G. Patel, the promoter of KP Group, was recently ranked as the second wealthiest person in Surat and the sixteenth in Gujarat by Hurun India.
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