KPI Green Energy Secures INR 3,200 Crore Sanction from State Bank of India for 1+ GWp Solar and Hybrid Projects in Gujarat

KPI Green Energy Limited has secured a sanction of INR 3,200 crore from State Bank of India for its Solar and Hybrid Independent Power Producer (IPP) projects aggregating 1+ GWp in Gujarat. The sanction comprises both fund-based and non-fund based facilities to part-finance the development of a 250 MW Solar Project and a 370 MW Hybrid Project. These 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. 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.