Gujarat-based power producer, KPI Global has been sanctioned a Rs 1.07 billion loan from Power Finance Corporation (PFC) for its 35 MW solar projects.
Of the approved funding, KPI will use Rs 315 million to refinance its existing 15 MW plant earlier financed by State Bank of India and Rs 760 million towards setting up a new 20 MW power project at Bharuch in Gujarat. KPI added 25.762 MW as an independent power producer in 2019-20, up 172 per cent from the previous year taking the cumulative capacity to 40.76 MW. The developer’s cumulative captive mode portfolio stood at 6.2 MW.