KPI Green Energy Limited has secured a major financial boost with a ₹979 crore funding sanction from Canara Bank to develop its 150 MW wind power project in Gujarat. The move strengthens the company’s position in India’s rapidly expanding renewable energy sector and reinforces its Independent Power Producer (IPP) portfolio.
The sanctioned amount includes ₹931 crore as a fresh rupee term loan and ₹48 crore as a bank guarantee facility. This funding will be used to finance the development of the wind energy project across Bharuch and Bhavnagar districts in Gujarat.
The project is backed by long-term revenue visibility through 25-year Power Purchase Agreements (PPAs) signed with Gujarat Urja Vikas Nigam Limited (GUVNL), ensuring stable cash flows once the project becomes operational.
The total project cost is estimated at ₹1,241.68 crore and will be funded through a 75:25 debt-to-equity structure. The term loan sanctioned by Canara Bank will form the majority debt component, reflecting strong lender confidence in KPI Green Energy’s execution capabilities and the project’s viability.
The financing facility comes with a door-to-door tenor of 20 years and 1 month. This includes an implementation period of 1 year and 4 months, along with a moratorium period of 1 year, offering sufficient time for project completion and initial stabilization before repayment obligations begin.