KPI Green Energy Limited has received financial assistance of ₹272 crore from the National Bank for Financing Infrastructure and Development (NaBFID) to part-finance its 50MW hybrid power project in Bharuch, Gujarat.
The project, which includes 75.2MWp solar capacity and 16.95MW wind capacity, will be developed under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL). KPI Green Energy stated that this funding will play a crucial role in completing the project within the stipulated timeline.
With this expansion, KPI Green Energy aims to strengthen its renewable energy portfolio and further its commitment to sustainable energy solutions. The company has set an ambitious target of achieving 10GW capacity by 2030, and this project marks a significant step in that direction.
The financial assistance from NaBFID underscores the growing support for renewable infrastructure financing in India, aligning with the country’s focus on clean energy initiatives.
(Disclaimer: This article is for informational purposes only and does not constitute financial advice.)
