KPI Green Energy shares rise 5% as SBI approves ₹3,200 crore for Gujarat’s renewable projects

Shares of Gujarat-based renewable energy solutions provider KPI Green Energy gained as much as 5.05% to touch an intraday high of ₹488.70 apiece on the National Stock Exchange (NSE).

The stock was trading 1.72% higher at ₹473.20 per equity share at 9:50 AM.

The surge in the share price comes after the company received a sanction of ₹3,200 crore from State Bank of India, comprising both fund-based and non-fund-based facilities. The sanction will partially fund the development of two projects in Gujarat aggregating over 1 GWp of the company’s Independent Power Producer (IPP) portfolio.

The first is a 250 MW (AC) / 350 MWp (DC) solar power project. The second is a 370 MW hybrid power project, which includes a 557 MWp solar portion and a 124.20 MW wind portion. Both projects have secured 25-year power purchase agreements with Gujarat Urja Vikas Nigam Limited (GUVNL) and are being developed in Bharuch and Surendranagar districts.

The projects will be funded with a 75:25 debt-equity ratio, with proceeds earmarked for project cost financing, reimbursement of incurred expenditure and related development expenses.

Once commissioned, these projects will significantly contribute to KPI Group’s 10 GW target by 2030, generate steady revenue through long-term Power Purchase Agreements, and reduce over 1.5 million tonnes of carbon dioxide emissions each year, an impact comparable to planting more than 65 million trees, reinforcing KPI Green Energy’s commitment to sustainability.

Commenting on the development, Dr Faruk Patel, Chairman & Managing Director, KPI Green Energy, said, “This landmark sanction from the State Bank of India is a strong validation of KPI Green Energy’s capabilities and long-term vision. Financing is a critical enabler of large-scale infrastructure, and this partnership empowers us to accelerate capacity addition under India’s renewable transition.”

“With over 1 GWp of new capacity being developed, we will significantly expand our operational portfolio, strengthen annuity income streams, and create long-term value for all stakeholders. We remain fully committed to delivering these projects ahead of stipulated timelines and setting new benchmarks in execution excellence,” he added.

KPI Green Energy stock price

Over the last five trading sessions, KPI Green Energy shares declined 0.59% and further dropped 6.58% over the past month. However, the scrip advanced 12.11% over the past six months, while it fell 13.80% on a year-to-date basis.

The stock touched its 52-week high of ₹604.87 on September 26, 2024 and its 52-week low of ₹604.87 on January 29, 2025. The company’s market capitalisation stands at ₹9,315.49 crore as recorded on September 25.