Investment17 Mar 2026, 02:26 pm
KPI Green Energy Secures Rs. 979 Crore Loan from Canara Bank for 150 MW Wind Project
AI Summary
KPI Green Energy Limited has secured a sanction of INR 931 crore from Canara Bank in the form of a Fresh Rupee Term Loan and 48 Crore in the form of a Bank Guarantee, to finance the development of its 150 MW wind power project in Gujarat. The project is secured by 25-year long-term Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL), is being developed in Bharuch and Bhavnagar districts in Gujarat and forms part of the Company’s growing Independent Power Producer (IPP) portfolio. The total project cost is estimated at INR 1,241.68 crore, proposed to be funded in a debt-equity ratio of 75:25.
Key Highlights
- KPI Green Energy secures Rs. 979 crore loan from Canara Bank for 150 MW wind power project in Gujarat.
- The project is secured by 25-year long-term Power Purchase Agreements (PPAs) with GUVNL.
- The project is part of the Company’s growing Independent Power Producer (IPP) portfolio.
- The total project cost is estimated at INR 1,241.68 crore, proposed to be funded in a debt-equity ratio of 75:25.
- This facility will support the timely development of the wind power project and help accelerate the growth of KPI Green Energy's renewable energy portfolio.