KP Group which started its journey back in 2016; in renewable energy from just 2.1MW has today grown to 339+MW in energized capacity and has secured a business of 384+MW till Q1FY24 in solar (KPI Green Energy) alone, while in wind (KP Energy) the group has energized 726+MW and has 1031+MW in pipeline. This further displays our commitment to fulfilment of our ambitious target to complete 1000MW by 2025 in solar. Also, we proud that KP Group is playing a major role by taking a personal target of installing 10+GW by end of CY30. This will not only help in Govt. of India’s plans, but also will lead to a clean and green energy solution to humanity and to the world. The group recently, have broken the myth of installing wind projects only in Saurashtra - Kutchregion of Gujarat by exploring opportunities in South Gujarat and backed by three years of scientific research. The group installed South Gujarat’s first ever, total seven, wind turbines at Kora, Bharuch, in an unbelievable timespan of just four months. Apart from this the group has also successfully installed hybrid projects in Bhavnagar and Bharuch.
India is poised to assume a more prominent role in the global supply chain due to several key factors. First and foremost, the Indian government has initiated significant economic reforms and policy changes to enhance the ease of doing business in the country. This has attracted foreign investments, leading to the development of modern infrastructure and manufacturing facilities. Additionally, as India has started its sprint towards 500 GW of installed renewable energy by 2030, which includes the
installation of 280 GW of solar power and 140 GW of wind power; India’s large and increasingly skilled workforce provides a competitive advantage, it an attractive destination for outsourcing and manufacturing. Furthermore, India’s strategic location in South Asia and its growing trade partnerships with various nations have facilitated smoother logistics and trade routes, contributing to its integration into global supply chains and making the “Make in India” initiative a success. As India earned presidency of G20 Summit, it is exploring further opportunities in climate change and specially in renewable energy. As per India-Saudi Arabia agreement India is to supply green power and green hydrogen to Saudi Arabia and reach to 5 million Tonnes of capacity by 2030 making India hub for green energy and KP Group is surely to benefit from the same. We at KP Group are proud to see ourselves aligned with the vison of India and in contributing to the ambitious green energy goals made by the country to make this world a better place for the generations to come.
As mentioned earlier KP Group has already energized ~1.1GW of renewable energy projects and has around ~2GW of renewable energy business in pipeline. The group has also achieved a significant milestone of commissioning 26.1 MW of hybrid project in FY23. Apart from this KP Group has already jumped in the bandwagon of development of green hydrogen and is committed for completion of 1MW green hydrogen pilot project by end 2024. Also, to boost the power generation of our solar power projects by implementing single-axis solar tracker panel structures as a pilot project in our Gujarat’s Largest Solar Power Plant located at Sudi, Bharuch. Further the best part of this is that the fabrication of these solar tracker panel structures is done by one of KP Group’s company KP Green Engineering Pvt. Ltd., which was formerly known as KP Buildcon Pvt. Ltd. KPI Green Energy Ltd., the solar and hybrid vertical of KP Group has also, implemented robotic panel cleaning in our Solar Plants. This advanced technology will not only further increase the PLF of our solar power plants but will also help save O&M costs of these plants. KP Green Engineering, the infrastructure development vertical of KP Group is also growing aggressively by expanding its production capacity to 54,000 MTs. Glad to mention that KP Green Engineering played a major role as EPC developer by developing 105+MW solar park at Gujarat’s first solar park at Charanka. Today, the company is working aggressively by expanding its portfolio in MMS solar structures and lattice wind towers.
Q. What is the scope for the EPC segment in India and what is KP’s focus and why?
EPC segment in India’s renewable energy sector is exceptionally promising. India has made significant strides in its commitment to clean and sustainable
energy sources, setting ambitious targets for renewable energy capacity expansion. This includes solar, wind, hydro, and other forms of renewable power generation. EPC companies are crucial in facilitating the development of renewable energy projects, from designing and building solar and wind farms to setting up transmission infrastructure and integrating renewable energy into the grid. With a growing emphasis on reducing carbon emissions and transitioning to greener energy sources, the demand for EPC services in the renewable energy sector is set to soar.
Q. What policy changes would you like to see to help Solar PV Modules flourish? Is there anything else that can boost the solar installations in India?
To facilitate the flourishing of Solar PV Modules and boost solar installations in India, several policy changes and initiatives are still essential. The PLI scheme, which was lately introduced by the government, have further motivated local PV module manufacturers to expand their business. Introduction of such further policies will not only boost the morale of local players in the renewable energy sector but will also help reach the ambitious target of India in renewable energy to be achieved on time.
Additionally, investing in research and development to improve the efficiency and affordability of solar technology would be instrumental in accelerating adoption.
Q. What is the current state of KP’s presence in the EPC segment at the moment and how do you see it progressing?
KPI Green Energy as mentioned is comfortably set to achieve its ambitious target of 1000MW by 2025 as it sees 723+MW of business already secured. Hence, the company is well on growth trajectory. The company has already won a bid of 240MW from GUVNL, this shows how aggressively the company is moving ahead in building its portfolio with private as well as government entities. KP Group has signed multiple MOUs with international bodies like Tristar Transport LLC, Greenstat Hydrogen India Pvt. Ltd. and national body like Mahatma Phule Renewable Energy & Infrastructure Technology Ltd. (MAHAPREIT). The market capitalization of the companies has grown to INR 3,412+ Cr for KPI Green Energy, while INR 967+ Cr for KP Energy, as on 28th August 2023.
Q. What are the roadblocks in the pathway of India’s EPC segment’s growth trajectory?
The growth trajectory of India’s EPC segment faces few significant roadblocks. One of the foremost challenges is the infrastructure bottlenecks, such as inadequate transportation and logistics facilities, hinder the smooth execution of EPC projects.
Additionally, access to financing remains a critical issue, as many EPC projects require substantial capital investments, and securing funds can be challenging, especially for smaller players in the industry. Lastly, addressing issues related to land acquisition and obtaining necessary clearances can be time-consuming and complex, further impeding growth of the EPC segment in India. Overcoming these roadblocks would be crucial to unlocking the full potential of India’s EPC industry.
Q. How can these challenges of the industry be addressed? How is your company contributing towards this transition?
Addressing the challenges facing the renewable energy industry in India requires a multifaceted approach. Firstly, policies encouraging long-term investments in renewable energy projects should be further implemented like what government introduced under PLI scheme to boost local solar PV module manufacturing. Additionally, improving infrastructure, particularly in terms of grid connectivity and energy storage, is vital to harness the full potential of renewable sources.
Q. Could you tell us about your major projects and clientele you are catering to?
KP Group has always been one of the best choices of brand, and is successfully serving around 250+ brands across major verticals of renewable energy. KP Energy Ltd., which is the wind and hybrid vertical of KP Group, has already served as EPC service provider to major companies like GE, Apraava Energy, Aditya Birla Renewables, German TMX Pvt. Ltd., ABREL Century Energy, Pashupati Cotspin, Mono Steel, and many more. While KPI Green Energy ltd., which is the solar and hybrid vertical of KP Group, has been serving to companies like Garison Engineer Air Force, GUVNL, UPL, L&T, Polycab, Tata Motors, Zydus Lifesciences, Anupam Rasayan, Aether Industries, Meghmani Organics, Colortex, Heubach and many more.
Q. REI celebrated its glorious 15 years and now it’s coming up with a bang in 2023. Would you like to invite your customers with any special message our platform?
Renewable Energy India Expo popularly known as REI offers an all-inclusive platform to domestic and international players across the renewable energy domain, our hearty wishes for successful journey and years to come. Surely, not just our customers, but we recommend our vendors and other industry players to be part of this platform and explore further opportunities in this sector.
