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KPI Green Energy Limited secures a sanction of INR 3,200 crore from State Bank of India (PFsSBU), comprising both fund-based and non-fund based facilities, to part-finance the development of its 250 MW Solar Project and 370 MW Hybrid Project in Gujarat, together aggregating over 1 GWp of the Company’s Independent Power Producer (IPP) portfolio. The sanctioned facilities will support two strategically significant renewable projects:
- 250 MW (AC) / 350 MWp (DC) Solar Power Project
- 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.
Strategic Importance
This milestone sanction 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.
About KP Group:
Established in 1994 by Dr. Faruk G. Patel, KP Group has grown into a multi-faceted conglomerate with core expertise in renewable energy, infrastructure, and innovation. Over the past three decades, the group has championed sustainability by spearheading transformative projects in wind and solar energy, thereby contributing to India’s green energy mission. With a strong portfolio of renewable energy projects, KP Group has earned a reputation as a trusted partner for companies committed to reducing their carbon footprint. The group remains steadfast in its mission to contribute meaningfully to India’s energy transition while setting new benchmarks in the renewable energy sector.
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