Connect with us

Hi, what are you looking for?

CleanTechnica

Green Economy

India’s NTPC Raises $300 Million In Green Bonds Issue

India’s largest power generation company, publicly-owned NTPC Limited, has finally issued a green bond months after the government directed several companies to raise funds to finance renewable energy projects.

NTPC Limited recently reported to the Indian bourses that it raised Rs 2,000 crore (US$300 million) through Green Masala bonds now listed at the London Stock Exchange. The company offered overseas investors an extremely attractive annual coupon rate of 7.48%. Green Masala bonds are rupee-denominated bonds issued to overseas investors.

The proceeds of the green bond issue will be used by the company to finance renewable energy projects, and the bulk of it is expected to be directed toward solar power projects. NTPC has extremely ambitious renewable energy targets and, over the last few months, has emerged as the leader in India’s march toward its plan to have 100 GW of installed solar power capacity by March 2022.

Recently, NTPC announced plans to significantly increase the share of renewable energy in its energy mix in the medium to long-term. The company plans 128 GW of power generation by 2032, out of which 28% is expected to come from renewable energy. The company’s current power generation capacity stands at 47 GW, of which renewable energy constitutes 11%.

It also revealed plans to auction off 5 GW of additional solar capacity. The initial plan would have seen an auction of 10 GW of solar capacity.

A number of Indian companies and banks have issued green bonds over the last few months as the demand for renewable energy funding has increased sharply. More recently, private-owned Axis Bank became the first company to issue a certified green bond. Axis Bank raised $500 million through the bond, which is also listed at the London Stock Exchange. 

 
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

An avid follower of latest developments in the Indian renewable energy sector.

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.

Clean Power

Welcome to another issue of our new India x Cleantech series! On a monthly basis, we are pulling news from across clean technology sectors...

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.