KPI Green Energy Limited has announced the successful listing of India’s first externally credit-enhanced green bond on the National Stock Exchange, raising ₹670 crore to fund its renewable energy expansion.
The five-year bond carries a coupon rate of 8.50% with quarterly amortisation and is backed by a 65% partial guarantee from GuarantCo, part of the Private Infrastructure Development Group. The enhancement has secured an AA+(CE) rating from both CRISIL and ICRA, widening access to long-term investors such as mutual funds, insurance firms, and infrastructure funds.
Proceeds from the issuance will be deployed to expand KPI’s portfolio of solar, wind, and hybrid projects across India, expected to deliver clean electricity to over 210,000 people and businesses annually while avoiding more than 344,000 tonnes of carbon emissions.
With over 1 GW of renewable capacity already developed and a pipeline exceeding 3 GW, KPI Green Energy is advancing towards its 10 GW target by 2030. Chairman and MD Dr. Faruk G. Patel said the bond demonstrates the company’s commitment to sustainability while setting new benchmarks for ESG investments in India.
