K.P. Energy shares rally 8% as firm signs MoU with Inox Wind for 2.5 GW wind-solar projects; Inox Wind shares rise

“The MoU establishes a strategic partnership aimed at jointly developing 2.5 GW of wind and wind-solar hybrid power projects across multiple states in India,” K.P. Energy said in a regulatory filing.

Under the MoU, KPE will handle project development activities, including securing connectivity, land, and right-of-way, obtaining statutory approvals, and executing Balance of Plant and EPC works. The company will also oversee the O&M of the project’s Balance of Plant.

Inox Wind (IWL) will supply the wind turbine generators and related equipment and provide engineering support such as USS design, transformer specifications, and foundation design. It will also manage pre-commissioning, commissioning, and O&M of the wind turbine generators. This integrated structure allows both companies to leverage their core strengths to deliver timely, seamless, and high-quality project execution.

Commenting on the development, KPE Founder and MD Dr Faruk G. Patel said, “KPE is committed to advancing large-scale renewable energy infrastructure, and this partnership with INOX marks a significant strategic step in that direction. By combining KPE’s depth of experience in project development, statutory planning and balance-of-plant execution with IWL’s proven manufacturing and engineering capabilities, we are establishing a robust collaborative platform capable of delivering complex wind and hybrid assets at scale.”

Patel said that the MoU reinforces the company’s long-term goal of developing reliable, integrated clean-energy solutions and strengthens its ability to contribute meaningfully to India’s renewable energy targets.

Further, KPE will benefit from assured access to IWL’s equipment and engineering capabilities, enhancing its ability to deliver fully integrated renewable assets, while IWL will gain from KPE’s strong on-ground execution expertise. “This collaboration is expected to strengthen the strategic positioning of both organisations by leveraging their complementary strengths across the renewable energy value chain,” the firm added.

Together, the two companies will be better positioned to pursue large-scale renewable opportunities, enhance operational efficiencies, and contribute more effectively to India’s clean-energy transition.

“Inox Wind’s partnership with KP Energy is a collaboration of two renewable industry leaders, capitalising on the strong product, ground-level execution and project-development excellence of the two companies. Through this association, we aim to deliver structured, high-quality renewable energy solutions that reinforce our role in supporting India’s transition toward cleaner and more sustainable power generation,” said Kailash Tarachandani, Group CEO Renewables, INOXGFL Group.

Share price details

Following the development, both Inox Wind and K.P. Energy shares were trading with gains.

Shares of K.P. Energy, however, are trading 37% lower than their 52-week high, which they touched on December 10, 2024.

For the six-month period, the stock has tumbled more than 15%, while it has declined 23% year-to-date.