KPI Green Energy, an India-based renewable energy developer engaged in solar and hybrid projects, has secured aINR 3,200 crore (~ $ 384 million)finance facility from State Bank of India for project development in Gujarat. The sanction, comprising both fund-based and non-fund-based components, is designated to support two independent power producer projects with a combined capacity exceeding 1 GWp. These include a 250 MW (AC)/350 MW (DC) solar project and a 370 MW hybrid project consisting of 557 MW solar capacity and 124.20 MW wind capacity. Both favilities are being developed in Bharuch and Surendranagar districts and are tied to 25-year power purchase agreements with Gujarat Urja Vikas Nigam Ltd. The financing is structured on a 75:25 debt-equity ratio, with allocations for project cost financing, reimbursement of incurred expenditure, and related development expenses. KPI Green Energy stated that this facility will enable timely execution and expansion of its operational portfolio within Gujarat’s renewable energy sector.