KPI Green Energy Limited has secured a total financial sanction of ₹979 crore from Canara Bank to support the development of its 150 MW wind power project in Gujarat under the Independent Power Producer (IPP) segment.
The sanctioned amount comprises a fresh rupee term loan of ₹931 crore along with a bank guarantee facility of ₹48 crore, providing a structured financial backbone for the project’s execution.
The wind project, located across Bharuch and Bhavnagar districts, is backed by 25-year long-term Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL). It forms a key part of KPI Green Energy’s expanding IPP portfolio, reinforcing its presence in India’s renewable energy sector.
The total project cost is estimated at ₹1,241.68 crore and will be financed through a debt–equity ratio of 75:25. The sanctioned term loan constitutes the debt component of the financing structure.
The loan facility comes with a door-to-door tenor of 20 years and 1 month, including an implementation period of 1 year and 4 months, along with a moratorium period of one year. This long-term financing arrangement is expected to support the timely development and commissioning of the project.
The development underscores continued momentum in India’s wind energy sector, supported by institutional financing and long-term power offtake agreements.
Dr. Faruk Patel, Chairman & Managing Director, KPI Green Energy Limited, stated, “This sanction from Canara Bank represents another important milestone in KPI Green Energy’s growth journey. The continued support from leading public sector banks reflects strong confidence in our execution capabilities and long-term vision in the renewable energy sector. Access to long-term project financing remains a critical enabler for scaling clean energy infrastructure, and this facility will support the timely development of our wind power project. This facility will help accelerate the growth of our renewable energy portfolio, reinforce stable annuity revenues, and create enduring value for all stakeholders. Upon commissioning, these projects will make a substantial contribution to KP Group’s 10 GW target by 2030.”
