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.