Debt

Debt financing

Solar player Avaada Energy raises Rs.1,440-Cr through green bonds

Economic Times  

Solar project developer Avaada Energy is raising green bonds for INR 1440 crore in the Indian capital market at 6.75% making it India's largest such issue by any renewable energy developer. The bonds are certified by Climate Bonds Standard Board of the Climate Bonds Initiatives and are also compliant with the SEBI guidelines for Green Debt Securities. The bonds, with a tenure of three years, will be listed on the Bombay Stock Exchange (BSE). The issuance received the highest rating by CRISIL ratings. Axis Bank and ICICI Bank are the arrangers of the issue. Avaada Energy is backed by oil & gas major PTT Group- Thailand.