KPI Green Energy Secures Landmark SBI Financing for Gujarat Solar Projects

KPI Green Energy has secured a $3,200 crore finance facility from State Bank of India to develop significant solar and hybrid power projects in Gujarat. These projects, totaling over 1 GWp, will enhance KPI's renewable energy portfolio, contribute to environmental sustainability, and help achieve the company's 2030 targets.

KPI Green Energy has successfully obtained a substantial financial sanction of Rs 3,200 crore from the State Bank of India. This facility will support the development of significant solar and hybrid power projects in Gujarat, representing over 1 GWp in total capacity.

The projects, including a 250 MW solar power project and a 370 MW hybrid power project, aim to expand KPI's operational portfolio. The financing will be structured with a 75:25 debt-equity ratio, covering various project expenses and strengthening annuity income streams.

Long-term power purchase agreements with Gujarat Urja Vikas Nigam Ltd will guarantee recurring revenue, while environmental benefits include reducing over 1.5 million tonnes of carbon dioxide emissions annually. Founded by Faruk G Patel, KPI Group continues to lead in renewable energy and innovation.

(With inputs from agencies.)