Surat, October 10, 2025: Shares of K.P. Energy Ltd (BSE: 539686, NSE: KPEL) surged more than 9% on Friday, following the announcement that the senior management of the KP Group inked a ₹8,000 crore Memorandum of Understanding (MoU) with the Government of Gujarat. This pivotal agreement is set to initiate the development of a state-wide Hydrogen and Electric Vehicle (EV) fuel stations network. The deal was formally unveiled during the Vibrant Gujarat Regional Conference 2025 at Ganpat University in Mehsana.
Since its inception in 1994, founded by Dr. Faruk G. Patel, KP Group has grown into a diversified renewable energy and infrastructure powerhouse. Renowned for its groundbreaking wind and solar energy projects, the company has significantly contributed to India’s clean energy mission and carbon reduction goals.
Stock Performance and Market Reaction
K.P. Energy shares opened at ₹386.05 and closed at ₹423.50, clocking a gain of ₹37.45, or approximately 9.59%. The company currently boasts a market capitalization of around ₹2,826.82 crore, with a total trading volume nearing ₹4.67 crore. Operating predominantly in the renewable energy sector, K.P. Energy is positioned on the BSE SmallCap index, attracting investor interest and market engagement.
Details of the MoU
The ₹8,000 crore investment agreement, signed on October 9, 2025, represents a significant advancement in developing clean energy infrastructure within Gujarat. The project is aimed at establishing a comprehensive network of Hydrogen and Electric Vehicle fuel stations, reinforcing the state’s status as a frontrunner in the green mobility sector. The MoU was formalized in the presence of Chief Minister Bhupendrabhai Patel and underscores the government’s commitment to promoting substantial investments in sustainable energy.
This progressive agreement is anticipated to create around 1,000 direct and indirect job opportunities. To expedite the project’s rollout, the Gujarat government has pledged to ensure the requisite approvals, permissions, and clearances. The MoU was signed by Mr. Affan Patel, Whole-Time Director of KP Group, while Smt. Bhakti Shamal, Joint Secretary of the Energy & Petrochemicals Department, represented the government.
Strategic Significance for KP Group
This initiative highlights KP Group’s unwavering commitment to advancing clean and renewable energy across India. By integrating hydrogen and electric vehicle supply infrastructure, the company aims to broaden its clean energy portfolio, going beyond its current wind and solar operations. This diversification position allows KP Group to offer a comprehensive range of clean transportation solutions to its clientele.
Management Commentary
Reflecting on this pivotal development, Dr. Faruk G. Patel, Founding Promoter of KP Group, commented, “Gujarat has consistently led India’s clean-energy transition, and this MoU marks another milestone in that journey. Through this collaboration, we aim to create a robust, future-ready refuelling ecosystem for Hydrogen and Electric Vehicles that will not only enable industries, public transport, and private mobility to adopt cleaner fuels with confidence but also strengthen Gujarat’s position as a frontrunner in sustainable and green infrastructure development.”
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