Tuesday, 02 January 2024 12:17 GMT

India's Premier Green Energy Firm Sets Sights On Dubai


(MENAFN- Khaleej Times)

“There are only two Cs for business success - credentials and cash flow.”

Wise words from Dr Faruk G. Patel, Chairman and Managing Director of KP Group, one of India's most dynamic renewable energy conglomerates headquartered in Surat, Gujarat.

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Dr Patel's journey is nothing short of extraordinary, one that could move hearts and inspire generations. Born to a bus conductor, he grew up watching his father toil day and night, every rupee earned through sheer sweat and sacrifice. Yet, despite their humble means, his father found a way to send him to a private school - a world far removed from his own.

“I was the poorest boy in the class,” Dr. Patel remembers.“The other kids arrived in shiny cars and in new uniforms- sons of doctors, engineers, and businessmen. I had none of that. I don't remember a single day that I carried my own lunchbox to school. Every time I saw them, I promised myself that one day, I would stand shoulder to shoulder with the very people I once looked up to. That's when the fire to succeed was lit inside me,” he told Khaleej Times during a recent visit to Dubai.

Having established a strong presence across India, KP Group is now planning to expand overseas, and the UAE is one of his first stops.“We have had some fruitful initial discussions, and hope to have something more concrete soon,” he said.

Over the past three decades, Dr Patel has built KP Group from a modest beginning into a Rs165 billion enterprise, spearheading India's green-energy revolution across solar, wind, hybrid, hydrogen, and EV infrastructure domains.

Under his leadership, KP Group has commissioned over 2 GW of solar and wind projects, with more than 4 GW in the pipeline, and has set an ambitious target of achieving 10 GW by 2030. Under the IPP & CPP segment, the company has commissioned and is in process of commissioning its multiple large solar projects to the tune of 1 GWp at Khavda, Gujarat.

Expanding into green hydrogen, EV fuel stations, and smart energy storage, signing significant MoUs with the Government of Gujarat.

Established integrated facilities in engineering, galvanising, power generation, and EPC that serve as India's backbone for green infrastructure.

Earned multiple recognitions for sustainability, innovation, and community development through its KP Human Development Foundation.

Has been featured in popular magazines such as Forbes, Fortune and also delivered lectures at popular Indian educational Institutions like IIM Ahmedabad & IIT Bombay.

Dr Patel was recently conferred an Honorary Doctorate for his contribution to sustainable development and continues to inspire thousands through his philosophy of“Building a Greener Tomorrow.”

His story embodies the spirit of visionary entrepreneurship that aligns with the UAE's own sustainability ambitions and the COP28-driven global energy transition.

But his journey as an entrepreneur is not easy. In his initial days, when he was in the logistics business, he recalls facing situations as challenging as a single truckload of bricks.“I did not find any labourers to unload the bricks, so I joined my truck driver and cleaner to unload the blocks throughout the night,” he reminiscences.

Steadily, his work began to bear fruit as he expanded his business to a major fleet of trucks. He then ventured into building telecom towers during the first phase of India's cellular telecom boom. However, due to a downturn in the telecom sector, he had to bear major losses.“It was then that I saw the potential in green energy,” Dr Patel said.

When Prime Minister Narendra Modi, who was then chief minister of Gujarat, announced the largest solar initiative, Dr Patel decided to move to become an independent power producer. He purchased 220 acres of land in his village to mark the start of a journey towards renewable energy.

“After working as an engineering procurement and construction developer I realised that in solar and wind once the plant is built it generates electricity for 25 years. Even solar panels have a 25 year warranty. That's when I decided to move from renewable infrastructure development under KPI Global Infrastructure Ltd, now known as KPI Green Energy Ltd,” he said.

As of today, KPI Green Energy has built and energised over 500MW of its own IPP capacity, contributing approximately 13 per cent to the company's total revenue.

Alongside his business ventures, Dr Patel is a major contributor to several philanthropic initiatives. He runs two old age homes and a centre for children with special needs.

Dr Patel remains passionate about contributing to India's growth and net zero goals of 2070.

“I have 500 MW of own IPP capacity. A 1MW installation has 3,000 panels. This means there are 1.5 million panels I have not bought a single panel from any other country other than India. If anything is more important for India it is power created by renewable energy if we get sustainable power our dollar output will be less carbon emissions will reduce and we will be self dependent,” he stressed.

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Khaleej Times

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