KP Group, through its group entities, KPI Green Energy, KP Energy, and KP Green Engineering, has entered into a framework agreement with wind turbine manufacturer Senvion India to jointly develop up to 2 GW of wind and wind-solar hybrid projects across India over the next three years.

Under the agreement, KP Group will conduct project site identification and development. This includes land acquisition, obtaining statutory permits and approvals, and completing the balance of plant (BoP) execution. The BoP includes conducting civil works and providing internal roads, foundations, electrical systems, and grid evacuation up to interconnection points.

Senvion India will supply the wind turbine generators for the projects. The company has plants in Baramati in Maharashtra, Vadodara and Ahmedabad in Gujarat, and Trichy in Tamil Nadu, for the manufacture of nacelles and hubs, blades and towers.

KP Group provides solutions in the wind, solar, hybrid energy, battery energy storage system, and green hydrogen sectors.

In October this year, KPI Green Energy received a letter of intent from UAE-based FVE Lifecare General Trading, part of the F Plus Group, to develop a 600 MW solar plus storage project in India at an estimated cost of ₹10.5 billion (~$119.02 million). It will design, develop, finance, and commission an integrated solar plus battery energy storage project to deliver reliable, round-the-clock renewable power.

In September, KPI Green Energy secured approval from the State Bank of India for a ₹32 billion (~$360.77 million) loan for its solar and hybrid independent power producer projects in Gujarat. The approval comprises both fund-based and non-fund-based facilities to part-finance the development of its 250 MW solar project and 370 MW hybrid project.

In the same month, KPI Green Energy’s board of directors approved the issuance of ₹6.7 billion (~$76.05 million) in secured, listed, rated, senior, redeemable, transferable, non-convertible certified green bonds through a private placement to eligible investors. The bonds will be issued in one or more tranches in dematerialized form and listed on the Negotiated Trade Reporting Platform under the New Debt Market Segment of the National Stock Exchange of India.