KPI Green Energy has secured Rs.9.79 billion in project finance from Canara Bank for a 150 MW wind power development in Gujarat. The 20-year debt package, structured with a one-year moratorium, supports the company’s IPP expansion under long-term PPAs with state utility GUVNL.
KPI Green Energy has received a funding sanction of Rs.9.79 billion from Canara Bank for its 150 MW wind power project located in Bharuch and Bhavnagar districts, Gujarat. According to official disclosures, the financing comprises a Rs.9.31 billion rupee term loan and a Rs.480 million bank guarantee facility.
The total project cost is estimated at Rs.12416.8 million with a debt-equity ratio of 75:25. The loan carries a door-to-door tenor of 20 years and one month, inclusive of a one-year and four-month implementation period and a one-year moratorium. The project operates under the Independent Power Producer (IPP) segment and is backed by 25-year power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL), providing long-term revenue certainty.
This development matters as it reflects the availability of extended-tenor project financing from public sector banks for renewable energy infrastructure, a critical factor for developers managing capital-intensive assets. The moratorium and implementation period are structured to align with project construction timelines, reducing execution risk.
For the renewable energy sector, the transaction signals sustained institutional appetite for wind power assets with contracted off-take arrangements. Gujarat continues to attract investment in utility-scale renewables, reinforcing its role as a key market for IPPs. The financing structure offers a reference point for developers seeking long-duration debt to match PPA tenors. KPI Green Energy is a Gujarat-based renewable energy company operating as an Independent Power Producer (IPP) and service provider for captive power producers under the Solarism brand. Canara Bank is a Indian public sector bank with a network of over 10,000 domestic branches and overseas operations.
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