KPI Green Energy Secures ₹979 Crore Financing From Canara Bank For 150 MW Gujarat Wind Project

Surat: KPI Green Energy is accelerating its renewable expansion with fresh funding support, strengthening its position as an independent power producer in India’s growing wind energy segment.

The company has received a sanction of Rs 979 crores from Canara Bank to fund its upcoming wind power project. This includes a Rs 931 crore fresh rupee term loan and Rs 48 crore bank guarantee facility, forming a key part of the project’s financing structure.

The 150 MW wind project is being developed across Bharuch and Bhavnagar districts in Gujarat. It is backed by 25-year long-term power purchase agreements with Gujarat Urja Vikas Nigam Limited, ensuring revenue visibility. The total project cost is estimated at Rs 1,241.68 crores, funded through a 75:25 debt-equity ratio.

The financing facility carries a door-to-door tenor of 20 years and 1 month, including an implementation period of 1 year and 4 months and a moratorium of 1 year. This long-term structure provides financial stability and supports the timely execution of the project, aligning with the company’s expansion plans.

Management indicated that the funding reflects strong lender confidence in the company’s execution capabilities and renewable energy strategy. The project is expected to contribute to the group’s broader target of achieving 10 GW capacity by 2030, while strengthening its independent power producer portfolio. The funding milestone highlights KPI Green Energy’s continued push in scaling clean energy infrastructure, backed by long-term financing and strategic project development.

Disclaimer: This article is based solely on the company’s press release document and does not include external verification or additional sources.