KPI Green Energy secures Rs 272 crore loan for Gujarat hybrid power project
NEW DELHI: KPI Green Energy announced on Wednesday that it has secured a Rs 272 crore loan from the National Bank for Financing Infrastructure and Development (NaBFID) to partly fund its 50 megawatt (MW) hybrid power project in Bharuch, Gujarat, news agency PTI reported.
“The company has received a final sanction letter from the National Bank For Financing Infrastructure and Development (NaBFID) for credit facilities amounting to Rs 272 crores for the part financing of the 50 MW hybrid power project comprising of 75.2 MWp solar capacity and 16.95MW wind capacity,” said the company in an exchange.
The project will be developed under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited. According to the company’s exchange filing, this financial assistance will be instrumental in ensuring the project’s timely completion.
