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CLP India’s wind vitality arm raises round Rs 300 crore by way of inexperienced bonds

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CLP India Private’s wind vitality arm, CLP Wind Farms (India) Private, has raised Rs 296.9 crore by inexperienced bonds, the corporate stated on Wednesday.

The Hong Kong headquartered-CLP Group’s India subsidiary goals to make use of the proceeds to refinance loans used for initiatives within the subject of renewable vitality from the 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,” Rajiv Mishra, managing director, CLP India, was quoted as saying in a press release.

The CLP Group, by CLP India, is without doubt one of the largest international traders in India’s energy sector. It has a diversified portfolio of three,000 megawatts that features thermal, wind and photo voltaic vitality initiatives, and transmission property.

Standard Chartered Bank and DBS Bank India are the arrangers for the bond issuance for a tenure of two to 3 years. India Ratings and Research Private had assigned a ranking of AA to the bonds. The yearly-coupon bonds might be issued in two tranches – Rs 196.9 crore and Rs 100 crore.

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