KPI Green Energy Secures ₹979 Crore Loan from Canara Bank for 150 MW Wind Project
KPI Green Energy Limited announced it has secured a sanction of ₹979 crore from Canara Bank to finance the development of its 150 MW wind power project in Gujarat. The project, which operates under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL), is being developed in the Bharuch and Bhavnagar districts.The total project cost is estimated at ₹1,241.68 crore, with a debt-equity ratio of 75:25. The term loan facility has a door-to-door tenor of 20 years and 1 month, including an implementation period of 1 year and 4 months and a moratorium period of 1 year.
“This sanction from Canara Bank represents another important milestone in KPI Green Energy's growth journey,” said Dr. Faruk Patel, Chairman & Managing Director of KPI Green Energy Limited. "Access to long-term project financing remains a critical enabler for scaling clean energy infrastructure and this facility will support the timely development of our wind power project." He further stated that the project will contribute to KP Group's target of 10 GW by 2030.
KP Group, established in 1994, has expertise in renewable energy, infrastructure, and innovation. The group has a portfolio of renewable energy projects, contributing to India's green energy mission.
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