KPI Green To Secure Rs 32,000 Cr SBI Loan, Say Top Executives
Company expects Rs10 Bn revenue by 2027 as loan and bond proceeds fund IPP projects expansion
KPI Green Energy plans to secure Rs 32 billion (USD 363.4 million) via a long-term loan from State Bank of India to enhance capacity at its renewable energy facilities, company officials announced on Tuesday.
The loan, which spans 20 years and has an interest rate of 8.45 percent, will be provided in installments over the upcoming 18 months. The funding is one of the major transactions in India’s clean energy industry and arrives as the government accelerates its goal of achieving 500 gigawatts of non-fossil power by 2030.
The firm anticipates finishing all projects presently underway in its Independent Power Producer (IPP) sector by 2027, with revenue expected to reach Rs 10 billion.
In addition to the loan, KPI Green Energy initiated its inaugural green bond, aiming to secure Rs 6.7 billion with an annual coupon rate of 8.5 percent. The five-year instrument in rupees was bolstered by a 65 percent guarantee from GuarantCo.
