Connect with us

Hi, what are you looking for?

CleanTechnica

Green Economy

Indian Wind Energy Company Issues Bonds Worth $75 Million 

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.

 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 

Advertisement
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

Smiti works as a senior solar engineer at a reputed engineering and management consultancy. She has conducted due diligence of several solar PV projects in India and Southeast Asia. She has keen interest in renewable energy, green buildings, environmental sustainability, and biofuels. She currently resides in New Delhi, India.

Comments

You May Also Like

Clean Power

I recently interviewed Assaad Razzouk, CEO of Gurin Energy and host of “The Angry Clean Energy Guy” podcast, for CleanTech Talk, and — wow...

Green Economy

One of India’s largest renewable energy companies has completed a fundraising exercise through the issuance of green bonds. Greenko Energy Holdings has announced that...

Climate Change

A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects.

Green Economy

One of India’s leading renewable energy companies, Greenko Energy Holdings, has successfully issued yet another green bond, making it at least the fourth green...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.