Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

KPI Green Secures Rs272 Crore Credit for Hybrid Power Project in Gujarat

KPI Green Energy, a Surat-based renewable energy company, has secured a Rs272 crore credit facility from the National Bank for Financing Infrastructure and Development to fund its 50 MW hybrid power project in Bharuch, Gujarat. The project, comprising 75.2 MW of solar and 16.9 MW of wind capacity, will operate under a 25-year power purchase agreement with Gujarat Urja Vikas Nigam. This initiative aligns with KPI Green’s broader goal of achieving 10 GWcapacity by 2030.

The company has a cumulative power evacuation capacity of 2,591 MW and a solar and hybrid portfolio of 3.40 GW. In Q2 FY 2025, KPI Green reported a revenue of Rs361 crore. The company has actively expanded its independent power producer (IPP) and captive power producer (CPP) segments, commissioning 171 MW of operational capacity under IPP and 336 MW under CPP, with an additional 1,261 MW and 1,148 MW under execution, respectively.

KPI Green has been expanding its hybrid power portfolio, commissioning 81 MWin the first half of FY 2025 and securing a pipeline of over 1.1 GW in hybrid projects. The company previously won Coal India’s auction for a 300 MW solar project at Gujarat’s Khavda Solar Park and secured Rs686 crore through a Qualified Institutions Placement, issuing 0.254 crore shares at Rs1,183 per share.