India's KPI Green Energy up; SBI sanctions $360 million for two projects

** Shares of KPI Green Energy NSE:KPIGREEN rise 2% to 474.40 rupees

** Renewable power generation co secures sanction of 32 bln rupees ($361.1 mln) from State Bank of India NSE:SBIN

** The funds will part-finance development of 250 MW solar project and 370 MW hybrid project in Gujarat

** Projects are secured by 25-year long-term power purchase agreements with Gujarat Urja Vikas Nigam

** Trading vol so far is more than 613,700 vs 30-day average of 472,826

** KPIG down ~13% YTD

($1 = 88.6190 Indian rupees)