KPI Green Energy has secured a sanction of Rs 3,200 crore finance facility from State Bank of India (SBI) for its solar and hybrid independent power producer projects, aggregating over 1 GWp in Gujarat.
The sanctioned facilities will support two strategically significant 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 are secured by 25-year long-term power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL) and are being developed in 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. Upon commissioning, these projects will make a substantial contribution to KP Group's 10 GW target by 2030.
KPI Green Energy (formerly known as K.P.I. Global Infrastructure) is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as service provider to Captive Power Producer (CPP) customers.
