KPI Green Energy Limited announced that it has secured a ₹3,200 crore finance facility from the State Bank of India (SBI) to support its ambitious solar and hybrid Independent Power Producer (IPP) projects in Gujarat. This major funding milestone will enable the company to add over 1 GWp of renewable energy capacity to its portfolio, reinforcing its leadership in India’s clean energy transition.
Strategic Renewable Projects in Gujarat
The sanctioned facilities will fund two key renewable projects:
- 250 MW (AC) / 350 MWp (DC) solar power project
- 370 MW hybrid project, comprising 557 MWp solar and 124.20 MW wind
Both projects are being developed in the Bharuch and Surendranagar districts of Gujarat and are backed by 25-year Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL).
Financing Structure and Purpose
The SBI sanction, comprising fund-based and non-fund-based facilities, will follow a 75:25 debt-equity ratio. Proceeds will be used to finance project costs, reimburse incurred expenses, and fund related developmental activities.
Leadership Insight
Calling it a “landmark sanction,” Dr. Faruk Patel, Chairman & Managing Director of KPI Green Energy, emphasized that the financing validates the company’s capabilities and long-term vision. He highlighted that the new projects will expand operational capacity, strengthen annuity income streams, and create sustainable value for stakeholders.
Sustainability and Future Targets
Upon commissioning, the projects will:
- Contribute significantly to KP Group’s 10 GW renewable target by 2030
- Avoid over 1.5 million tonnes of CO₂ emissions annually
- Deliver an environmental benefit equal to planting 65 million trees per year
Founded by Dr. Faruk G. Patel in 1994, KP Group has evolved into a diversified conglomerate with expertise in renewable energy, infrastructure, and innovation—pioneering India’s shift to a greener future.
