“CLP Wind Farms (India) Private Ltd, a subsidiary of CLP India Private Ltd (CLP India), has raised Rs 296.9 crores through the issuance of rated, secured, unlisted, redeemable and non-convertible debentures. Standard Chartered Bank and DBS Bank India are the arrangers for the bond issuance for a tenure of two to three years,” a company statement read.
The firm has announced that the proceeds from these green bonds will be utilised to refinance loans used for projects in the field of renewable energy from wind sources. The move will help the firm sustain the expansion of its renewable energy portfolio in alignment with the company’s vision to invest in low carbon footprint businesses.
CLP India is one of the largest wind power developers in the country with committed wind projects of close to 1,000 MW across six states. In 2015, CLP Wind Farms (India) was the first mover in South Asia to issue corporate green bonds in the power sector. It is owned by the CLP Group, one of the largest investor-owned power businesses in Asia, and Caisse de depot et placement du Quebec, a leading Canadian institutional fund manager.
[source: saurenergy.com, 15/10/2020]