Funding the 14GW Build-Out: Bankability and India's Data Centre Growth

India's next phase of data centre growth will depend as much on bankable financing structures as on market demand. Industry estimates suggest that India could add around 14 GW of data centre capacity by 2035, requiring investments of well over Rs. 5 lakh crore across land, power infrastructure, buildings and technology. Capital providers are therefore looking beyond occupancy projections. The focus is shifting to whether the project has a credible path to securing power, sufficient revenue visibility through long-term customer commitments, robust execution capabilities, and a clear path to refinancing into lower-cost institutional debt once operational. Bankability increasingly depends on the predictability of future cash flows, not simply on construction progress. For developers, the financing strategy is becoming as important as the engineering strategy. Equity, private credit, bank debt and infrastructure financing each serve a distinct purpose across the project lifecycle. The timing of the transition between them increasingly shapes the overall cost of capital. Site selection is increasingly being shaped by power availability and state policy, while anchor customer commitments are often needed before large pools of capital are deployed. Green power procurement is moving beyond sustainability goals to become a commercial differentiator, particularly for hyperscale customers with net-zero commitments. As India's data centre market matures, successful projects will be those that align capital structure, power readiness and customer commitments from the outset. The roundtable will examine how India can finance the next phase of data centre growth, with a focus on bankability, financing pathways, and investment readiness.