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KP Group and Saudi Arabia’s Raz Holding Group sign non-binding LOI for strategic investment partnership
The non-binding agreement opens the door to potential investment and collaboration between the two groups in India’s clean-energy sector
- PUBLISHED: Wed 2 Sept 2026, 4:40 PM
KP Group and Saudi Arabia-based Raz Holding Group have signed a non-binding Letter of Intent (LOI) under which Raz Holding Group intends to explore a strategic investment in, or collaboration with, KP Group or one or more of its operating entities.
The proposed transaction may take the form of an acquisition, capital infusion or another form of collaboration. The final structure, investment instrument and valuation will be determined following due diligence and negotiations between the two groups.
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The LOI is subject to due diligence, execution of definitive agreements and customary corporate and regulatory approvals in India. The parties will work towards definitive agreements during a 90-day exclusivity period, with the LOI remaining valid until November 18, 2026, unless extended by mutual agreement.
KP Group operates across renewable energy and related infrastructure, including solar and wind independent power projects (IPP), engineering, procurement and construction (EPC), transmission, manufacturing and operations and maintenance (O&M). The group also has activities in battery energy storage systems and green hydrogen.
According to the company, KP Group has a renewable-energy portfolio of approximately 9.2 GW, comprising installed capacity and projects under development or orders in hand. The group also has manufacturing capabilities supporting its renewable-energy operations.
The proposed partnership follows KP Group’s international activities, including engagements related to renewable energy and green hydrogen in South Korea, green-energy infrastructure initiatives in international markets, and a proposed renewable-energy development in Botswana.
KP Group said the proposed investment reflects interest from Saudi investors in India’s renewable-energy sector and could support further collaboration between the two countries in clean energy.
Dr Faruk G. Patel, founder and CMD, 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.”
Riyadh Al-Zamil, founder and chairman, Raz Holding Group, said: “KP Group has built a credible and integrated renewable-energy platform with significant long-term potential. We look forward to exploring this opportunity and strengthening investment collaboration between Saudi Arabia and India in the clean-energy sector.”
The transaction remains at a preliminary stage and is subject to completion of due diligence and execution of definitive agreements.