KPI Green Energy secures Rs.3,200-Cr finance facility from SBI

Surat-based renewable power generating company KPI Green Energy has been sanctioned a INR 3,200 crore finance facility from State Bank of India 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 Ltd (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.