KPI Green Energy Secures Major Loan for Gujarat Hybrid Project

KPI Green Energy has secured a Rs 272 crore loan from NaBFID to fund its 50 MW hybrid project in Gujarat, which involves a mix of solar and wind energy. The project is under a 25-year PPA with Gujarat Urja Vikas Nigam Limited.

KPI Green Energy announced on Wednesday it has secured a Rs 272 crore loan facility to support its 50 MW hybrid power project in Baruch, Gujarat. The financing, provided by the National Bank For Financing Infrastructure and Development (NaBFID), will help fund a combination of solar and wind energy capacity.

The project, consisting of 75.2 MWp in solar and 16.95 MW in wind capacity, aims to bolster renewable energy production in the region. It will operate under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited, ensuring a stable long-term energy supply.

This infusion of financial support is critical for meeting the project's deadlines and fulfilling its energy generation goals, according to the company's exchange filing. The development represents a significant advancement in renewable energy infrastructure for Gujarat.

(With inputs from agencies.)