KP Group, a renewable energy provider, has signed a Non-Binding Letter of Intent (LoI) with Raz Holding Group, a diversified conglomerate in the Kingdom of Saudi Arabia.
In a press release, KP Group said that the LoI records Raz Holding Group’s intention to make a strategic investment and/or collaborate with KP Group and/or one or more of its operating entities. For KP Group, this LoI reflects growing international investor interest in India’s clean-energy sector and in the Group’s portfolio across solar and wind IPP, EPC, transmission, and manufacturing, together with its emerging positions in battery energy storage systems, cell manufacturing, O&M services, and green hydrogen.
The LoI contemplates that the proposed investment and/or collaboration may be effected through acquisition/acquisitions, capital infusion, or collaboration, with the final structure, instrument, and valuation to be mutually agreed upon by the parties following the completion of due diligence.
About the Investment
The proposed strategic investment and/or collaboration is subject to the satisfactory completion of financial, legal, tax, technical, and ESG due diligence; negotiation and execution of definitive and legally binding agreements; necessary corporate, board, and shareholder approvals of both parties; and all applicable regulatory and other customary approvals, including, as relevant, requirements under FEMA/RBI, SEBI, and competition laws.
The LoI is non-binding in its entirety and does not create any obligation on either party to proceed with or complete the proposed strategic investment and/or collaboration. Any binding commitment will arise solely upon the execution of definitive agreements. The parties intend to work towards definitive agreements within an exclusivity period of ninety (90) days from the date of the LoI, which remains valid until 18 November 2026, unless extended by mutual written agreement.
Faruk G. Patel, Founding Promoter, KP Group, said, “The interest shown by Raz Holding Group is a strong endorsement of the quality of the assets we have built over three decades and of the long-term opportunity in India’s energy transition. International capital is looking closely at Indian clean-energy platforms today, and we are pleased that a group of Raz Holding Group’s standing sees KP Group as a partner of choice. We see this as part of a broader shift in how global capital views Indian renewables, and we look forward to taking the conversation forward.”
