KPI Green Energy Limited has received approval for a loan of Rs 3,200 crore from the State Bank of India, which includes both types of financial support, to help fund its 250 MW Solar Project and 370 MW Hybrid Project in Gujarat, totaling more than 1 GWp in the Company’s Independent Power Producer portfolio.
The sanctioned facilities will support two strategically significant renewable projects:
1. 250 MW (AC) / 350 MWp (DC) Solar Power Project
2. 370 MW Hybrid Power Project, comprising 557 MWp Solar portion and 124.20 MW Wind portion
Both projects are secured by 25-year long-term Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL) and are being developed in the Bharuch and Surendranagar districts of Gujarat.
This financial assistance highlights the confidence of India’s largest public sector bank in KPI Green Energy’s technical expertise, execution track record, and financial strength. The projects will be funded with a 75:25 debt-equity ratio, with proceeds earmarked for project cost financing, reimbursement of incurred expenditure, and related development expenses.