India-based KPI Green Energy expects to raise up to $1 billion from the launch of an infrastructure investment trust backed by renewable energy assets, KP Group’s top executive told Reuters on Tuesday.
KPI Green Energy Limited, a Gujarat-based solar and hybrid power generating company of KP Group, expects to launch the renewable infrastructure investment trust at the end of the 2027/2028 financial year, KP Group’s chairman and managing director, Faruk Patel, told Reuters.
The planned trust is expected to have between 1.5 gigawatts (GW) and 2 GW of operational solar, wind, and hybrid power projects, according to the executive, who noted that early-stage responses from prospective institutional investors and asset managers have been encouraging.
Indian companies are looking to capitalize on the renewable energy boom in the country, which is betting big on solar and wind power to meet larger shares of its growing electricity demand.
India has ambitious renewables targets, especially for solar power capacity expansion, although it continues to rely on coal as the pillar of its power generation and flexible capacity to meet peak demand.
India expects to nearly quadruple its solar power capacity and triple wind power-generating assets within ten years, according to the new Generation Adequacy Plan published by the country’s Central Electricity Authority earlier this year.
In 2025, India boasted achieving five years ahead of schedule its target to have 50% of its installed electricity capacity coming from non-fossil fuel sources.
Despite booming renewable capacity additions, India continues to rely on coal to meet most of its power demand as authorities also look to avoid blackouts in cases of severe heat waves.
However, concerns have emerged that India’s electricity grid is expanding at a slower pace than the boom in renewable energy installations, leading to increased share of clean energy curtailments and threatening to slow the solar and wind boom in the world’s most populous country.
By Charles Kennedy for Oilprice.com
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