Although similar tie-ups exist among players such as Suzlon and Adani Green, the scale and exclusivity of this agreement underscore its importance as a further step towards consolidation in India’s $23.9 billion renewables landscape.
It was a busy Wednesday at Noida-headquartered INOXGFL Group, as its subsidiaries Inox Wind Ltd (IWL) and Inox Solar Ltd (ISL) announced exclusive memoranda of understanding (MoUs) with Surat-based KP Group companies, KP Energy Ltd (KPE) and KPI Green Ltd, for comprehensive partnerships in wind and solar projects.
This partnership between equipment maker INOXGFL Group and developer KP Group comes at a time when India’s renewable energy sector is valued at $23.9 billion and projected to reach $52.1 billion by 2033. Although similar collaborations exist among players such as Suzlon and Adani Green, the scale and exclusivity of this agreement underscore its importance as a further step towards consolidation in India’s renewables landscape.
IWL’s exclusive MoU with KPE aims at jointly developing 2.5 GW of wind and wind-solar hybrid power projects across multiple states in India.
Under the MoU, IWL, along with its subsidiaries, will supply wind turbine generators and associated equipment, provide engineering support, including unitised substation (USS) design, transformer specifications, and foundation design, and execute pre-commissioning, commissioning, and operation and maintenance (O&M) of wind turbine generators.
For its part, KPE will undertake project development activities such as securing connectivity, land and right-of-way, obtaining statutory approvals, and executing balance of plant and engineering, procurement and construction (EPC) works. KPE will also manage O&M of the balance of plant of the project.
Kailash Tarachandani, Group CEO Renewables, INOXGFL Group, said, “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.”
Faruk G Patel, Founder & Managing Director, KPE, added, “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.”
This collaboration is expected to strengthen the strategic positioning of both organisations by leveraging their complementary strengths across the renewable energy value chain.
Solar Partnership
In another MoU, ISL and KPI will jointly develop 2.5 GW of solar and hybrid renewable energy projects across multiple states in India.
Under the agreement, ISL will supply solar modules and associated equipment, provide engineering support including USS design, transformer specifications, and foundation design, and execute pre-commissioning, commissioning and O&M for the solar modules.
KPI will undertake project development activities such as securing connectivity, land and right-of-way, obtaining statutory approvals, and executing balance of plant and EPC works. KPI will also manage O&M of the project.
INOXGFL Group’s Tarachandani said, “The synergies between Inox Solar’s engineering depth, manufacturing excellence and product reliability, and KPI’s on-ground development prowess position both companies to undertake large-scale renewable projects with confidence.”
KPI’s Patel surmised, “This partnership underscores KPI’s commitment to building large-scale, integrated renewable energy assets across India. By combining our strong development capabilities, EPC expertise and proven execution framework with Inox Solar’s robust solar technology and manufacturing strengths, we are establishing a powerful platform for delivering high-quality solar and hybrid energy projects.”
Inox Green, another INOXGFL Group subsidiary, will provide O&M services for the wind turbine generators and solar modules set up across all projects under the partnership.