KP Group, a renewable energy and infrastructure company, has signed a non-binding Letter of Intent (LOI) with Saudi Arabia-based Raz Holding Group to explore a strategic investment and/or business collaboration. The proposed arrangement could involve an acquisition, capital infusion or another form of collaboration involving KP Group or one or more of its operating companies. The final structure, investment instrument and valuation will be decided by both parties after completion of due diligence and further discussions.
The proposed transaction will be subject to financial, legal, tax, technical and ESG due diligence. It will also require the negotiation and signing of definitive agreements, along with necessary corporate, board and shareholder approvals and applicable regulatory clearances.
The LOI is non-binding and does not require either party to complete the proposed investment or collaboration. Any binding commitment will arise only after definitive agreements are executed. The two groups intend to work towards definitive agreements during a 90-day exclusivity period. The LOI remains valid until November 18, 2026, unless extended through mutual written agreement.
For KP Group, the proposed engagement reflects growing international interest in India’s renewable energy sector and the company’s expanding portfolio across the clean-energy value chain. KP Group has operations and investments spanning solar and wind independent power projects, engineering, procurement and construction, transmission and manufacturing. The group is also developing capabilities in battery energy storage systems, solar cell manufacturing, operations and maintenance and green hydrogen.
Dr Faruk G Patel, Founding Promoter, KP Group, said the interest from Raz Holding Group reflects confidence in the assets built by KP Group over the past three decades and the long-term potential of India’s energy transition. He said international investors are increasingly looking at Indian clean-energy platforms and added that KP Group is looking forward to developing the relationship further.
Established in 2008, Raz Holding Group is a diversified Saudi Arabian business group with interests across investments, real estate and hospitality, finance and fintech, consulting, artificial intelligence, healthcare and education. Its businesses also cover defence, media and communications, creative industries, culture, film production and event management.
KP Group was established in 1994 by Dr Faruk G Patel. The group has developed a diversified business focused on renewable energy, infrastructure and technology. Its clean-energy portfolio includes wind, solar, hybrid renewable energy, battery energy storage systems and green hydrogen projects.
