KPI Green Energy to raise Rs 3,200 crore from State Bank of India for expansion projects: Report
Renewable energy company KPI Green Energy is set to raise Rs 3,200 crore ($363.39 million) through a loan from the State Bank of India, says a Reuters report. The company is borrowing a large amount to expand its production capacity at its renewable power plants, top KPI executives told Reuters on Tuesday.
The company is raising the funds via a 20-year loan at an interest rate of 8.45 per cent from the largest bank of the country, which will be disbursed in a staggered manner over the next 1.5 years, KPI Green Energy’s Chief Financial Officer Sahil Yahoo told Reuters.
