KPI Green Energy Limited has secured a financial boost of ₹2.72 billion from the National Bank for Financing Infrastructure and Development (NaBFID) to support the development of its 50 MW hybrid power project in Gujarat. The funding will partially finance the project, which consists of 75.2 MWp solar capacity and 16.95 MW wind capacity, located in the Bharuch district.
The company, in an official filing with the Bombay Stock Exchange (BSE), confirmed that the project will be executed under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL). The newly sanctioned credit facility is expected to accelerate project execution and ensure timely completion.
KPI Green Energy emphasized that this development aligns with its long-term vision of expanding its renewable energy footprint. The company has set an ambitious target of achieving 10 GW of installed renewable energy capacity by 2030. The Bharuch-based hybrid project is anticipated to significantly strengthen its clean energy portfolio and contribute towards India’s sustainable energy transition.
This funding from NaBFID highlights the growing financial support for renewable infrastructure projects in India. KPI Green Energy believes that the hybrid power project will play a vital role in advancing the country’s green energy goals while reinforcing its own commitment to providing environmentally sustainable power solutions.
