NaBFID sanctions loan of KPI Green Energy for 50 MW hydro power project
The Company has received final sanction letter from National Bank For Financing Infrastructure and Development (“NaBFID”) for credit facilities amounting to Rs. 272 Crores
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Green Energy Stock, KPI Green Energy has informed that National Bank for Financing Infrastructure and Development has provided Financial Assistance for Part Financing of 50MW hybrid power project comprising of 75.2MWp Solar capacity and 16.95MW Wind capacity at Bharuch District in the state of Gujarat.
As per the filing, the Company has received final sanction letter from National Bank For Financing Infrastructure and Development (“NaBFID”) for credit facilities amounting to Rs. 272 Crores for the part financing of the 50MW hybrid power project comprising of 75.2MWp Solar capacity and 16.95MW Wind capacity at Bharuch, Gujarat.
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This project will be developed under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited. This financial assistance will play a crucial role in developing the project, with the goal of completing it within the stipulated timeframe, the company added.
This project will significantly enhance our renewable energy portfolio, supporting our dedication to providing the nation with environmentally friendly and sustainable energy. It will reinforce and expedite our efforts to reach our ambitious goal of 10 GW capacity by 2030.
Shares of the KPI Green Energy are trading higher by 3.68% at Rs 397.10 at NSE
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