KPI Green Energy Secures Rs 272 Cr Loan for Gujarat Hybrid Project

New Delhi, Mar 19 (PTI) KPI Green Energy on Wednesday said the company has been sanctioned Rs 272 crore loan facility to partly fund its 50 megawatt (MW) hybrid project.

The project is coming up at Baruch in Gujarat, the company said in an exchange filing.

"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," it said.

This project will be developed under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited. This financial assistance will play a crucial role in developing the project, with the goal of completing it within the stipulated timeframe, the company said.