K P I Global Infrastructure undertakes financial restructuring for Rs 178 cr

22 Jan 2022 , 01:34 AM

K P I Global Infrastructure announced that the company had earlier availed the financial assistance of Rs 19350 from Power Finance Corporation PFC New Delhi towards i part financing of 25 MWdc Solar power project; ii Refinancing of the existing 1535 MW de Solar power project; and iii Setting up of new 20 MWdc Solar power project developed by the Company under IPP segment at Bharuch Gujarat which is now being entirely taken over by State Bank of India SBI Surat The Company has accepted the sanction letter for the takeover of aforesaid entire financial assistance amounting to Rs 178 crore received form State Bank of India SBI Surat It is pertinent to note that the aforementioned financial assistance availed from PFC was at the average interest rate of 1130Percentage pa which shall be substantially reduce to 745Percentage pa post takeover by SBI Therefore the Company shall avai1 immense financial benefit in the Rate of Interest through this financial restructuring