Inox Wind and KP Energy have signed a Memorandum of Understanding (MoU) to jointly develop 2.5 GW of wind and hybrid wind-solar projects across multiple states in India, the company said in an official statement on November 19.
Under the partnership, Inox Wind and its subsidiaries will provide wind turbine generators and associated equipment to KP Energy. Inox will also provide engineering support and oversee pre-commissioning, commissioning, and the operation and maintenance of the wind turbine generators to KP Energy.
Inox Wind- KP Energy partnership
KP Energy will be responsible for project development activities, including securing connectivity, obtaining statutory approvals, right-of-way clearances, and executing Balance of Plant and EPC works. The company will also manage the O&M of balance of plant infrastructure.
Both the companies have stated that the collaboration will enable them to deliver timely and high-quality project execution. By leveraging each other’s strengths across the renewable energy sector both the companies are expected to strengthen their positions through this, the statement said.
“Together, both companies will be better equipped to pursue large-scale renewable opportunities, drive operational efficiencies, and contribute meaningfully to India’s clean energy transition,” the statement added.
Commenting on the partnership, Kailash Tarachandani, Group CEO Renewables, INOXGFL Group, said: “Through this collaboration, we aim to deliver structured, high-quality renewable energy solutions that support India’s transition toward cleaner and more sustainable power generation.”
“By combining KP Energy’s extensive experience in project development, statutory planning, and balance-of-plant execution with Inox Wind’s proven manufacturing and engineering strengths, we are establishing a strong platform capable of delivering large-scale wind and hybrid assets.” Dr. Faruk G. Patel, Founder and Managing Director, KP Energy said.
Inox Wind, KP Energy share performance
Following the announcement, the share price of KP Energy has surged nearly 6% intra-day while the Inox Wind share price was up around 0.3%. Over the past five sessions, Inox Wind shares have declined by more than 5%, whereas KP Energy shares have gained close to 3%
