KPI Green Energy Secures INR 272 Cr Loan for 50 MW Wind-Solar Hybrid Project in Gujarat
Gujarat-based KPI Green Energy has secured an INR 272 crore credit facility from the National Bank for Financing Infrastructure and Development (NaBFID) to partly finance a 50 MW hybrid power project at Bharuch, Gujarat. The project comprises 75.2 MWp solar and 16.95 MW wind power capacity and is backed by a 25-year PPA with GUVNL.
March 20, 2025. By Mrinmoy Dey
The company has received the final sanction letter from the National Bank for Financing Infrastructure and Development (NaBFID) for the credit facilities, stated the company in a regulatory filing.
It further added that this project will be developed under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Ltd. (GUVNL).
“This financial assistance will play a crucial role in developing the project, with the goal of completing it within the stipulated timeframe,” it said.
It further added, “This project will significantly enhance our renewable energy portfolio, supporting our dedication to providing the nation with environmentally friendly and sustainable energy. It will reinforce and expedite our efforts to reach our ambitious goal of 10 GW capacity by 2030.”
At present, the company has 2,591 MW of cumulative power evacuation capacity and about 3.40 GW of solar and hybrid portfolio.
In February 2025, KP Group, the parent company of KPI Green Energy, signed an MoU with the Madhya Pradesh government to develop 1.8 GW of renewable energy projects, including solar, wind, hybrid, BESS, and biomass.
In January 2025, KPI Green Energy signed a contract worth INR 1,311.40 crore with Coal India to develop a 300 MWAC grid-connected ground-mounted solar PV plant at GIPCL’s Solar Park in Khavda, Gujarat.
Earlier that month, the company announced that it is targeting an early completion of its 200 MW (240 MW DC) CTU-connected Independent Power Producer (IPP) solar project in Khavda, Gujarat. With the completion of the Khavda project, KPI’s operational IPP portfolio will reach from 171 MWp to 411 MWp.
In January 2025, the company also signed a memorandum of understanding (MoU) with the Government of Odisha for the establishment of Renewable Energy Parks in the district of Ganjam, Odisha.
Incorporated in 2008, KPI Green Energy develops, builds, owns, operates and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name ‘Solarism'.
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