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KPI Green Energy Secures INR 979 Cr Financing from Canara Bank for 150 MW Wind Project in Gujarat

KPI Green Energy has secured INR 931 crore as a term loan and another INR 48 crore as a bank guarantee from Canara Bank for its 150 MW wind power project in Gujarat. The project is secured by 25-year Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam.

March 17, 2026. By Mrinmoy Dey

KPI Green Energy, a part of KP Group, has announced that it has secured a sanction of INR 931 crore from Canara Bank in the form of a Fresh Rupee Term Loan and INR 48 crore in the form of a Bank Guarantee, to finance the development of its 150 MW wind power project in Gujarat.

The project is secured by 25-year long-term Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam (GUVNL), is being developed in Bharuch and Bhavnagar districts in Gujarat and forms part of the company's growing Independent Power Producer (IPP) portfolio, the company stated.

The total project cost is estimated at INR 1,241.68 crore, proposed to be funded in a debt-equity ratio of 75:25, with the sanctioned term loan forming the debt component of the project financing. The facility carries a door-to-door tenor of 20 years 1 month, including an implementation period of 1 year 4 months and moratorium period of 1 year, providing long-term financial support for the project's development and implementation.

Dr. Faruk Patel, Chairman and Managing Director, KPI Green Energy, 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.”

He further asserted that this facility will help accelerate the growth of the company’s 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, he said.

Tags:

KP Group wind projects in Gujarat

Wind project financing

KP Group RE plan

Gujarat Urja Vikas Nigam