KPI Green Energy Limited has secured a financing sanction of Rs 9.79 billion from Canara Bank for development of its 150 MW wind power project in Gujarat.
The sanction comprises a fresh rupee term loan of Rs 9.31 billion and a bank guarantee facility of Rs 0.48 billion. The project, located in Bharuch and Bhavnagar districts, is backed by 25-year power purchase agreements with Gujarat Urja Vikas Nigam Limited and forms part of the company’s independent power producer portfolio. The total project cost is estimated at Rs 12.42 billion and will be funded in a debt-equity ratio of 75:25. The financing facility has 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.
