KPI Green Energy Secures ₹979 Crore Funding from Canara Bank for 150 MW Wind Project in Gujarat
Mumbai: KPI Green Energy Limited has secured a total financial sanction of ₹979 crore from Canara Bank to fund its upcoming 150 MW wind power project in Gujarat. The funding includes a ₹931 crore term loan along with a ₹48 crore bank guarantee facility.
This development marks a significant milestone for the company as it continues to expand its renewable energy footprint in India.
Project Overview and Key Details
The wind power project will be developed across Bharuch and Bhavnagar districts in Gujarat. It will operate under long-term Power Purchase Agreements (PPAs) spanning 25 years with Gujarat Urja Vikas Nigam Limited (GUVNL), ensuring stable revenue generation.
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Total Project Cost: ₹1,241.68 crore
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Debt-Equity Ratio: 75:25
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Loan Tenure: 20 years and 1 month
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Implementation Period: 1 year 4 months
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Moratorium Period: 1 year
The sanctioned term loan will serve as the primary debt component, enabling timely execution and commissioning of the project.
Strengthening KPI Green Energy’s IPP Portfolio
This project is part of KPI Green Energy’s growing Independent Power Producer (IPP) portfolio. The company has been actively scaling its renewable energy capacity through solar, wind, hybrid projects, and emerging technologies like battery storage and green hydrogen.
The addition of this 150 MW wind project is expected to further strengthen the company’s long-term annuity income streams.
Management Commentary
Dr. Faruk Patel, Chairman and Managing Director of KPI Green Energy Limited, highlighted the importance of the funding:
“This sanction from Canara Bank represents another important milestone in our growth journey. Continued support from leading public sector banks reflects strong confidence in our execution capabilities and long-term vision.”
He also emphasized that access to long-term financing is critical for scaling clean energy infrastructure and that the project will contribute significantly to the group’s ambitious target of achieving 10 GW capacity by 2030.
About KP Group
Founded in 1994, KP Group has evolved into a diversified conglomerate with a strong presence in renewable energy and infrastructure. Over the years, the group has led multiple initiatives in solar, wind, hybrid energy, battery energy storage systems (BESS), and green hydrogen.
With a commitment to sustainability and innovation, KP Group continues to play a key role in supporting India’s transition toward clean energy.
Conclusion
The ₹979 crore funding from Canara Bank reinforces KPI Green Energy’s position as a growing player in India’s renewable energy sector. With strong financial backing and long-term PPAs in place, the 150 MW wind project is poised to contribute significantly to both the company’s expansion plans and the country’s green energy goals