KPI Green Energy Ltd has secured a sanction of INR 3,200 crore from State Bank of India to part-finance the development of its Independent Power Producer (IPP) portfolio clean energy projects aggregating over 1 GWp in Gujarat.
The sanctioned facilities, comprising both fund-based and non-fund components, will support two renewable projects: a 250 MW AC (350 MWp DC) solar power project and a 370 MW hybrid power project, comprising 557 MWp solar portion and 124.20 MW wind portion.
Both projects benefit from 25-year long-term power purchase agreements with Gujarat Urja Vikas Nigam Ltd (GUVNL) and are being developed in the Bharuch and Surendranagar districts of Gujarat. 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.
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