CLP Wind Farms (India) Private, the wind energy arm of CLP Power India Private Ltd. on Wednesday said that it has raised Rs 296.9 crore through green bonds.
The CLP Wind Farms (India) Private Ltd. is aiming to use the proceeds of refinancing loans used for the projects in the field of renewable energy from wind sources.
“The issuance of these green bonds will enable us to strengthen our low-carbon portfolio and explore new opportunities in renewables on the back of our strong partnership with Caisse de dépôt et placement du Québec (CDPQ). We are committed to generating and providing reliable power at competitive prices in a sustainable manner in order to be an integral contributor to India’s green economy,” said Rajiv Mishra, MD, CLP India.
The CLP Group is raising funds through its Indian subsidiary which is one of the largest foreign investors in India’s power sector. CLP India has a diversified portfolio of 3,000 MW (megawatt) including the thermal, wind and solar energy projects, and transmission assets.
Standard Chartered Bank and DBS Bank India are the arrangers of green bond issuance for a tenure of two-three years. India Ratings and Research Private Ltd. had assigned AA rating for the issued bond.