KPI Green Energy funded for 50 MW Hybrid Power Project in Bharuch, Gujarat
Introduction
KPI Green Energy, a top Indian renewable energy company, has reached a milestone by obtaining part finance of its new 50 MW hybrid power project in Bharuch, Gujarat. The company has been issued a final sanction letter by the National Bank for Financing Infrastructure and Development (NaBFID) for credit facilities worth ₹272 crore. The fund will be used to implement a hybrid energy project with 75.2 MWp solar capacity and 16.95 MW wind capacity.
Giant Boost to Gujarat’s Renewable Energy
The hybrid project will be built on a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL), providing the state a long-term revenue stream and energy security. With Gujarat becoming a renewable energy hub, the project also consolidates the state’s leadership in India’s clean energy transition.
Strategic Significance of the NaBFID Funding
The financial support of NaBFID is key to the on-time completion of the project. The sanctioned ₹272 crore will be a critical contributor in funding the project, partially enabling KPI Green Energy to complete the project as per its deadline in the set time frame. As India is promoting its green energy projects at an accelerated pace, such institutional financing guarantees that the projects are finished within the promised timeline.
Accelerating India’s Green Energy Mission
KPI Green Energy’s new hybrid project is in line with India’s larger vision to enhance the share of renewable energy from the country to the power grid, minimize carbon footprint, and go net-zero. Integrating solar and wind energy into a single hybrid project makes the power more consistent and maximizes land utilization, thus an environmentally friendly and cost-saving method of energy generation.
About KPI Green Energy
KPI Green Energy is highly renowned for its deep focus on building renewable power infrastructure in India, with an expanding portfolio of solar, wind, and hybrid power projects. The firm is also expanding its footprint, facilitating the country’s renewable energy goals while creating value for its stakeholders.
Key Takeaways:
- KPI Green Energy raises ₹272 crore from NaBFID for a 50 MW hybrid project.
- Project consists of 75.2 MWp solar and 16.95 MW wind capacities at Bharuch, Gujarat.
- 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL).
- Specific target of completing the project within a given time span.
FAQs
- What is the capacity of KPI Green Energy’s new hybrid power project in Bharuch, Gujarat?
The total capacity of the project is 50 MW, including 75.2 MWp solar power and 16.95 MW wind power. - Who has sanctioned finance for this hybrid power project?
National Bank for Financing Infrastructure and Development (NaBFID) has sanctioned ₹272 crore as a part-financing for the project. - What is a hybrid power project?
A hybrid power system integrates two or more of these renewable energy sources, including wind and sunlight power, in order to provide a more constant and stable supply of energy. - To whom will the electricity produced through the project be sold?
It will be offered on a 25-year Power Purchase Agreement to Gujarat Urja Vikas Nigam Ltd (GUVNL), which is a state-owned power distribution utility. - How will the project enhance renewable energy in Gujarat?
This project will enhance the renewable energy strength of Gujarat, minimize the utilization of fossil fuels, and help the state to become India’s clean energy powerhouse. - When will the project be ready?
KPI Green Energy shall finish the project within the stipulated time period, utilizing the approved funding in the best possible manner to get it done in time. - Why is the inclusion of NaBFID required?
NaBFID’s financing assistance ensures trouble-free execution of the project and reflects its confidence in KPI Green Energy to provide sustainable infrastructure. - Why should hybrid energy projects be undertaken?
Hybrid projects provide optimal energy output, maximize land space utilization, and provide a secure supply of power by making up for solar or wind fluctuation. - What is KPI Green Energy’s role in India’s renewable energy market?
KPI Green Energy is a leading solar wind and hybrid energy solution developer that has a significant role in India’s green energy and net-zero initiatives. - How does the project impact the environment?
The project helps to decrease greenhouse gas emissions, fight global warming, and encourage the uptake of sustainable energy use in the area through the production of clean, renewable energy.
Disclaimer
Barawakar does not provide financial advice and the information on the website www.Barawakar.com is only for general use. Users of Barawakar accept full responsibility in the possibility of losing capital. Barawakar strives to provide correct information, but offers no guarantees regarding the accuracy or completeness of data given.
In case of any investments planning, make sure to seek professional counsel or do amplify your own research. The www.barawakar.com website is available to users without warranties on availability or functionality. By using this website, you accept the terms of these conditions.
For any questions, feel free to reach out to us.