CLP Wind Farms raises Rs 300 cr through non-convertible debentures
The company said the move will help sustain the expansion of its renewable energy portfolio in alignment with the company’s vision to invest in low-carbon footprint businesses
CLP Wind Farms, a subsidiary of CLP India, on Wednesday said it has raised Rs 296.9 crore through the issuance of rated, secured, unlisted, redeemable and non-convertible debentures.
The company said the move will help sustain the expansion of its renewable energy portfolio in alignment with the company’s vision to invest in low-carbon footprint businesses.
Standard Chartered Bank and DBS Bank India were the arrangers for the bond issuance. India Ratings and Research has assigned a rating of AA to the bonds.
The yearly-coupon bonds will be issued in two tranches – Rs 196.9 crore and Rs 100 crore. The company is planning to use the proceeds from these green bonds to refinance loans used for its wind energy projects.
“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),” said Rajiv Mishra, managing director, CLP India.
CLP India has committed wind projects of close to 1,000 MW across six states.
Source: business-standard
