KPI Green Energy Limited’s stock gained more than 2% in early trade after the company announced a major funding milestone. The renewable energy player has secured a ₹3,200 crore sanction from State Bank of India’s Project Finance & Structured Business Unit to part-finance two large projects in Gujarat.
The funding will support a 250 MW solar project and a 370 MW hybrid project (solar + wind), both backed by 25-year power purchase agreements with Gujarat Urja Vikas Nigam Ltd. Developed across Bharuch and Surendranagar, these projects will expand KPI Green’s Independent Power Producer portfolio to over 1 GWp.
Structured with a 75:25 debt-equity ratio, the financing reflects SBI’s confidence in the company’s execution and technical strength. Once operational, the projects are expected to offset 1.5 million tonnes of CO₂ annually, supporting KPI Group’s target of achieving 10 GW renewable capacity by 2030.
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