Kiri Industries signs LOI for 9.45 MW Wind & 8 MW Solar Hybrid Power Project
Kiri Industries signed an LOI on January 28, 2026, for a 9.45 MW Wind and 8 MW Solar hybrid power project in Gujarat. The estimated cost is ₹1,007.95 crore. The project, to be commissioned within 10 months, will optimize energy costs and enhance the company's ESG profile.
The LOI signifies a significant capital expenditure and a strategic move towards renewable energy, which could have a moderate impact on the company's operational costs and environmental footprint.
The announcement details a strategic partnership for a new hybrid power project, which is expected to optimize energy costs and improve the company's ESG profile. This is a positive development for the company.
Kiri Industries Limited has issued a Letter of Intent (LOI) on January 28, 2026, for the installation of a Hybrid Power Project at Kamlapur site, Rajkot District, Gujarat. The LOI is entered into with IB Vogt Solar India Private Limited and Four-Square Green Energy Private Limited.
The LOI outlines the commercial terms, including scope of work, pricing, commissioning timelines, payment terms, and operational frameworks. Definitive agreements are to be executed in due course. This transaction does not fall under related party transactions.
The project involves a hybrid power setup with an installed capacity of 9.45 MW Wind and 8 MW Solar, with an estimated project cost of approximately ₹1,007.95 crore (10,079.50 Lakh). The project is expected to be commissioned within 10 months from the LOI issuance date.
The generated power will primarily be used to meet the energy needs of Kiri Industries' existing manufacturing facilities, aiming to optimize energy costs. The project also supports the company's commitment to renewable energy usage, reducing its carbon footprint, and enhancing its ESG profile.
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Kiri Industries Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Kiri Industries Limited. Read the original for the full detail.