KPI Green Energy Ltd Secures Rs 3,200 Crore Sanction From SBI For 250 MW Solar And 370 MW Hybrid Projects

KPI Green Energy Ltd has secured a sanction of Rs 3,200 crore from the State Bank of India to finance its renewable energy projects in Gujarat, marking a significant boost for the company’s portfolio exceeding 1 GWp of Independent Power Producer (IPP) capacity. This funding underscores confident backing from India’s largest public sector bank and supports the company’s aggressive expansion in clean energy.

Key Highlights Of The Sanctioned Facilities

The financing covers two major projects: a 250 MW (AC) / 350 MWp (DC) solar power project, and a 370 MW hybrid project comprising 557 MWp solar and 124.20 MW wind capacity.

Both projects have secured long-term 25-year Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL).

Locations for these projects include the Bharuch and Surendranagar districts of Gujarat, significant regions for renewable capacity addition.

The projects will be financed using a debt-equity ratio of 75:25, with funds allocated for project cost, incurred expenses reimbursement, and development.

Upon completion, these projects will contribute substantially towards KPI Green Energy’s target of achieving 10 GW capacity by 2030.

Strategic Importance And Company Outlook

The Rs 3,200 crore sanction reflects SBI’s strong confidence in KPI Green Energy’s execution capability and financial strength. It signifies a pivotal step in scaling renewable infrastructure aligned with India’s national renewable energy goals, reinforcing KPI’s position as a leading green power developer.

Dr. Faruk Patel, Chairman & Managing Director, emphasized that this financial support will accelerate capacity addition and sustain long-term value creation, while ensuring project delivery ahead of schedules.

Conclusion: Accelerating India’s Renewable Energy Transition

This landmark sanction from SBI catalyzes KPI Green Energy's journey toward significantly enhancing renewable capacity in Gujarat. The blend of solar and hybrid projects with robust PPAs demonstrates a balanced, sustainable growth model aiming to power India's clean energy future.

Source: NSE India, BusinessUpturn, Mercom India, KPI Green Energy Ltd. official release