GuarantCo collects FinanceAsia award for its pioneering KPI Green Energy green bond transaction in India

  • Date written
  • March, 2026

GuarantCo, part of the Private Infrastructure Development Group (PIDG), has been lauded with a Best Structured Finance Deal title in the FinanceAsia Achievement Awards for its landmark KPI Green Energy transaction in India. The project was also Highly Commended in the Best Bond Deal category.

GuarantCo collects FinanceAsia award for its pioneering KPI Green Energy green bond transaction in India

The award was presented at a ceremony held last night at the Conrad Hong Kong. GuarantCo accepted the award alongside Aseem Infra Finance, which was integral to the delivery of the KPI Green Energy transaction as a keystone investor.

The annual Achievement Awards recognise excellence in issuers, banks, investors and other market participants that are helping develop, utilise and expand Asia Pacific’s fast-growing capital markets.

The KPI Green Energy transaction, which financially closed in September 2025, was groundbreaking as India’s first externally credit enhanced green bond issuance. GuarantCo provided a partial guarantee of c. USD 76.5 million to enable the issuance from the renewable energy developer and operator. It was noteworthy in a bond market dominated by larger private firms and state-backed entities.

The proceeds of the bond will help KPI Green expand its solar, wind and hybrid power portfolio capacity across the states of Gujarat. The project will provide c. 210,000 people with improved access to clean electricity, while being forecast to avoid more than 344,000 tCO2e.

Nishant Kumar, Managing Director of Asia Investments at GuarantCo and Head of Coverage – Asia at PIDG, said:

“We are delighted to have been formally recognised for the transaction with KPI Green Energy that will support systematic growth in India’s debt capital markets. GuarantCo, part of the Private Infrastructure Development Group, is at the forefront of market innovation and creating replicable structures. We hope this deal inspires the unlocking of domestic institutional capital for financing sustainable infrastructure in India.”

NOTES TO EDITORS

About GuarantCo

GuarantCo mobilises private sector local currency investment for infrastructure projects and supports the development of financial markets in lower income countries across Africa and Asia. GuarantCo is part of the Private Infrastructure Development Group (PIDG) and is funded by the governments of the United Kingdom, Switzerland, Australia and Sweden, through the PIDG Trust, the Netherlands, through FMO and the PIDG Trust, France through a stand-by facility and Global Affairs Canada through a repayable facility. GuarantCo is rated AA- by Fitch and A1 by Moody’s in 2014. Since 2005, GuarantCo has enabled USD 7.1 billion of total investment and USD 6.8 billion of private sector investment, giving 44.8 million people access to infrastructure and creating around 248,000 jobs in Africa and Asia. GuarantCo’s activities are managed by GuarantCo Management Company which is part of Cardano Development. www.guarantco.com

 

About PIDG

The Private Infrastructure Development Group (PIDG) is an innovative infrastructure development and finance organisation which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals. PIDG delivers its ambition in line with its values of pioneering, partnership, safety, inclusivity, and urgency.

 

[PIDG offers technical assistance for upstream, early-stage activities and concessional capital; invests in early-stage project development and project and corporate equity through its project development solution, InfraCo; its debt solution EAAIF (the Emerging Africa & Asia Infrastructure Fund) is one of the first and more successful blended debt funds in low-income markets; and its guarantees solution, GuarantCo, provides credit enhancement and local currency solutions to de-risk projects. PIDG also supports a growing portfolio of local credit enhancement facilities, which unlock domestic institutional capital for infrastructure financing.

 

Since 2002, PIDG has supported 258 infrastructure projects to financial close, which provided an estimated 232 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia and Sweden, and Global Affairs Canada. www.pidg.org