KPI Green Energy Secures Rs 9,790 mn From Canara Bank For 150 MW

20 Mar 2026 CW Team

KPI Green Energy Limited has secured Rs 9,790 million (mn) in financing from Canara Bank to develop a 150 megawatt (MW) wind power project in Gujarat, the company said in a press release dated 17 March 2026. The facility comprises a Rs 9,310 mn fresh rupee term loan and a Rs 480 mn bank guarantee that form part of the project financing package. The long tenor and structured support are intended to aid timely project delivery.\n\nThe wind project will be developed across Bharuch and Bhavnagar districts and is supported by 25-year long-term power purchase agreements with Gujarat Urja Vikas Nigam Limited, providing revenue visibility over the life of the assets. The arrangement underlines the role of offtake certainty in securing long-term financing for renewable projects.\n\nThe total project cost is estimated at Rs 12,416.8 mn and is planned to be funded on a 75:25 debt to equity ratio. The financing carries a door-to-door tenor of 20 years and one month, including an implementation period of one year and four months and a moratorium of one year. This structure is designed to balance construction risk and operational cash flow requirements.\n\nCompany management indicated that the sanction reflects strong lender confidence in execution capabilities and the firm's renewable strategy, while long-term credit support improves bankability for large scale wind projects. The funding milestone is expected to strengthen the company's independent power producer portfolio and accelerate its growth trajectory.\n\nThe project is expected to contribute to the group's broader target of achieving 10 GW capacity by 2030 and to support India's energy transition through increased renewable capacity. The development highlights the importance of strategic project financing in scaling clean energy infrastructure without adding near-term pressure on the firm's balance sheet.

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