Global Energy Alliance seeking to raise $100 million by 2028 to digitise India’s electric grids, CEO says

FILE PHOTO: A view shows high-tension electricity power line pylon outside Adani Power’s thermal power generation plant at Mundra in the western state of Gujarat, India, November 30, 2024. REUTERS/Amit Dave/File Photo · Reuters

By Ashwin Manikandan

Wed, 18 February 2026 at 2:45 pm GMT+9 2 min read

By Ashwin Manikandan

MUMBAI, Feb 18 (Reuters) - The Global Energy Alliance for People and Planet is seeking to raise about $100 million by ‌2028 to finance the digitisation of India’s electricity grids and ‌plans to approach development finance institutions, including the World Bank and the Asian Development ​Bank, its chief executive Woochong Um said.

GEAPP is a philanthropic body backed by The Rockefeller Foundation, IKEA Foundation and the Bezos Earth Fund.

The proposed fund would follow an initial $25 million deployment by the alliance to digitise grids ‌in the states of Rajasthan ⁠and Delhi, and would support a broader nationwide roll out of the project, Um said in an interview ⁠with Reuters at the Mumbai Climate Week.

Grid digitalisation refers to the transition of traditional electricity networks into automated systems powered by artificial intelligence. It improves ​reliability, enables ​the integration of renewable energy and ​allows real-time monitoring, helping to ‌reduce costs and emissions.

New Delhi’s recently announced climate action plan targets a 45% cut in emissions intensity by 2030 from 2005 levels, with a net-zero goal set for 2070.

However, experts have warned that the transition could prove challenging amid India’s rapid growth ambitions.

India is targeting 500 GW of ‌non-fossil fuel-based energy capacity by 2030, a ​key component of its COP26 commitment, alongside ​a goal of achieving 50% ​cumulative electric power capacity from non-fossil sources. Grid digitisation ‌is expected to support that effort.

That ​backdrop is drawing ​increased attention from global philanthropies and multilateral lenders seeking investable projects, Um said.

“There are plenty of concepts, but not enough bankable projects,” ​he said.

The alliance ‌initially plans to focus on grids in Delhi and Rajasthan before ​expanding to at least 15 utilities nationwide by 2028.

(Reporting by ​Ashwin Manikandan; Editing by Sumana Nandy)

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