Indian Wind Energy Company Issues Bonds Worth $75 Million 

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

The trend of bond issuance by renewable energy companies and linked to renewable energy projects in India continues.

Renew Wind Energy (Jath) Limited has issued bonds worth Rs 491 crore (US$75.5 million). The bonds have been partially guaranteed by India Infrastructure Finance Corporation Limited (IIFCL) and counter-guaranteed by the Asian Development Bank.

IIFCL hopes that such bonds will open up the debt market and attract investment from new sources, like pension funds and insurance companies.

The Indian government is looking to significantly increase issuance of green bonds through public sector companies. Several private companies and banks, too, may consider issuing green bonds.

These would be essential as India requires investment of several hundred billion dollars to meet its target of installed renewable energy capacity of 175 GW by 2022.

Yes Bank, a private entity, has already issued two green bonds this year, including India’s first green bond in February. India’s push for green bonds has come at the right time. Savings rate and returns on conventional debt instruments has been on the decline as the Reserve Bank of India has reduced the base lending rate almost consistently over the last few months.

Several other government entities and private companies in India are planning to issue green bonds in the near future, including Rural Electrification Corporation, Power Finance Corporation, IDBI Bank, Indian Renewable Energy Development Agency, India Infrastructure Finance Limited, and ICICI Bank. Additionally, India’s largest power generation company, NTPC Limited, is reportedly planning to raise $500 million through green bonds. Earlier this year, HBSC India also announced plans to issue its first green bond.


Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Latest CleanTechnica TV Video


I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it!! So, we've decided to completely nix paywalls here at CleanTechnica. But...
 
Like other media companies, we need reader support! If you support us, please chip in a bit monthly to help our team write, edit, and publish 15 cleantech stories a day!
 
Thank you!

Advertisement
 
CleanTechnica uses affiliate links. See our policy here.