KPI Green Energy Lists India’s First Credit-Enhanced Green Bond

19 Sep 2025 CW Team

The five-year bond carries an annual coupon of 8.50 per cent with a quarterly amortisation schedule and benefits from a 65 per cent partial guarantee provided by GuarantCo, part of the Private Infrastructure Development Group funded by the governments of the UK, Switzerland, Australia, Sweden, Netherlands, Canada, and France. GuarantCo holds a Fitch rating of AA− and Moody’s rating of A1. This external credit enhancement enabled an AA+(CE) rating from both CRISIL and ICRA, widening the investor base to include long-term domestic institutions such as infrastructure funds, mutual funds, and insurance companies.

Proceeds from the bond will be deployed to expand KPI Green Energy’s solar, wind, and hybrid projects across India. These new initiatives are expected to provide clean electricity to around 210,000 households and businesses annually while avoiding over 344,000 tonnes of carbon emissions each year. This move accelerates India’s clean energy transition and mobilises Rs 6.7 billion of institutional investment beyond traditional banking channels.

KPI Green Energy has already developed 1 GW of renewable capacity and is progressing towards its 10 GW target by 2030. Its project pipeline exceeding 3 GW positions the company as a leading player in India’s renewable energy expansion.

Dr Faruk G. Patel, Chairman and Managing Director, said: “Issuing India’s first externally credit-enhanced green bond reinforces our commitment to powering communities with sustainable energy while diversifying financing avenues. This milestone sets a benchmark for ESG investment and supports the UN Sustainable Development Goals—SDG 7 (Clean Energy), SDG 8 (Decent Work & Growth), and SDG 13 (Climate Action).”

The transaction establishes a precedent for Indian corporates seeking sustainable capital through innovative credit enhancement mechanisms, signalling strong domestic investor appetite for responsible finance. It positions KPI Green Energy to access new liquidity sources and lays the foundation for future fundraising in both domestic and international green finance markets.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

KPI Green Energy Limited, a leading renewable energy developer and operator based in Gujarat, has successfully listed its inaugural green bond worth Rs 6.7 billion on the National Stock Exchange of India. This landmark issuance represents a major advancement for sustainable finance in the Indian renewables sector.The five-year bond carries an annual coupon of 8.50 per cent with a quarterly amortisation schedule and benefits from a 65 per cent partial guarantee provided by GuarantCo, part of the Private Infrastructure Development Group funded by the governments of the UK, Switzerland, Australia, Sweden, Netherlands, Canada, and France. GuarantCo holds a Fitch rating of AA− and Moody’s rating of A1. This external credit enhancement enabled an AA+(CE) rating from both CRISIL and ICRA, widening the investor base to include long-term domestic institutions such as infrastructure funds, mutual funds, and insurance companies.Proceeds from the bond will be deployed to expand KPI Green Energy’s solar, wind, and hybrid projects across India. These new initiatives are expected to provide clean electricity to around 210,000 households and businesses annually while avoiding over 344,000 tonnes of carbon emissions each year. This move accelerates India’s clean energy transition and mobilises Rs 6.7 billion of institutional investment beyond traditional banking channels.KPI Green Energy has already developed 1 GW of renewable capacity and is progressing towards its 10 GW target by 2030. Its project pipeline exceeding 3 GW positions the company as a leading player in India’s renewable energy expansion.Dr Faruk G. Patel, Chairman and Managing Director, said: “Issuing India’s first externally credit-enhanced green bond reinforces our commitment to powering communities with sustainable energy while diversifying financing avenues. This milestone sets a benchmark for ESG investment and supports the UN Sustainable Development Goals—SDG 7 (Clean Energy), SDG 8 (Decent Work & Growth), and SDG 13 (Climate Action).”The transaction establishes a precedent for Indian corporates seeking sustainable capital through innovative credit enhancement mechanisms, signalling strong domestic investor appetite for responsible finance. It positions KPI Green Energy to access new liquidity sources and lays the foundation for future fundraising in both domestic and international green finance markets.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..