Investment Strategy

Business Model, Growth & Investment Criteria

Ganit Energy's strategy is deliberately narrow and repeatable: own contracted, cash-generative solar infrastructure, selected through disciplined criteria, and grown — project after project — toward a 500 MW portfolio across sites and geographies.

Business Model

The Proven RESCO Utility Model — Grow to Scale, Profitable and Stable.

Ganit Energy operates as a RESCO and independent power producer (IPP) — raising capital, developing and owning distributed rooftop solar assets, supplying power to creditworthy customers under long-term contracts, and collecting stable cash flows over each project's life. Small- and medium-scale assets spread across sites, counterparties, and geographies keep the portfolio derisked by design, and the same repeatable cycle compounds year by year toward the 500 MW roadmap. The model is active, operational, and proven, and ready for institutional scaling capital.

Raise Capital

Equity from investors and senior debt from banks finance asset development and construction.

01

Build

Rooftop solar facilities are developed and constructed to proven engineering standards via our technical/EPC partner.

02

Own

Assets are held on the balance sheet as long-duration infrastructure — managed for performance and uptime.

03

Supply under PPA

Power is supplied to reliable, creditworthy customers — including sovereign entities — at contracted rates over 20–25 year terms.

04

Collect Cash Flows

Steady, predictable distributions flow to investors over the PPA life — the direct benefit of solar irradiance and contractual certainty.

05

Exit / Liquidity Event

At maturity or an optimal point in the asset's life, the portfolio — or individual assets — can be sold to pension funds, infrastructure funds, or private equity seeking long-duration cash flows. Investors realise full returns.

06

The Growth StrategySteps 01–05 repeat — project after project, year after year — growing to scale until the target capacity of 500 MW is reached, as laid out in the asset roadmap. The portfolio is exited only after the target capacity is built.

Target ReturnsThe stability and security of fixed-income bonds with target returns typically associated with equities — the best of both worlds — underpinned by long-term contractual revenues and asset-backed, secured debt financing.

Investment Criteria

The criteria that govern every project we own.

Each asset is selected against a consistent framework designed to protect downside and preserve cash-flow durability. Detailed criteria are shared with qualified investors; the principles below summarise our approach.

Creditworthy, stable, reliable offtaker

Preference for sovereign, government-utility, institutional, and established commercial counterparties with strong payment records.

Long-tenor, attractive PPA

Contracted revenue over 20–25 year terms, at PPA rates that meet our internal hurdle-rate economics (IRRs) — visibility across the full investment horizon, at returns worth underwriting.

Land-risk minimisation

Emphasis on rooftop and pre-secured sites to eliminate acquisition and title risk.

Distributed exposure

No single project or counterparty represents a material share of portfolio cash flows.

Proven engineering

Construction delivered to established standards through our technical/EPC partner.

Portfolio growth & clear exit pathway

Capacity additions compound, project by project, toward the portfolio target; thereafter, assets are structured for eventual sale to infrastructure funds, pension funds, or private equity.

This section will be expanded with detailed quantitative thresholds and underwriting parameters. Request the investment memorandum →

Investment Mandate

A deliberately narrow mandate.

Ganit Energy invests in one thing: contracted solar generation assets with creditworthy offtakers, held for long-term cash flow. The mandate does not drift — every asset in the portfolio answers to the same thesis, and capital is deployed only where the criteria above are met.

Within the mandate

  • Rooftop and distributed solar under long-term PPAs.
  • Creditworthy offtakers — sovereign, institutional, and established commercial.
  • India in the current investment cycle; USA as the next phase.
  • Proven, bankable PV technology delivered through our technical/EPC partner.

Outside the mandate — by design

  • Merchant power exposure or uncontracted revenue.
  • Speculative land banking or greenfield land development.
  • Unproven or experimental generation technologies.
  • Diversification unrelated to contracted solar infrastructure.

Learn more about the investment structure →