Indian state-run Rural Electrification Corporation (REC) is to raise US$450 million through its first ever 10-year Green Bonds with listing at London and Singapore, according energy minister Piyush Goyal.
Infrastructure finance company REC finances and promotes power sector projects across India. Goyal announced the news on Twitter.
REC also provides loan assistance to various state and central utilities, private sector project developers, central utilities and State Governments for investments in power generation, transmission, distribution and other system improvement initiatives.
REC and other state-owned companies including the Indian Renewable Energy Development Agency (IREDA) and Power Finance Corp (PFC) have been raising funds for the Indian renewables sector for at least the last two years.
Three major international development banks also recently joined Indian private sector financier Yes Bank and signed a charter to mobilize green investments in India.
Yesterday South Korean government-owned financial institution Korea Development Bank (KDB) also issued its inaugural Green Bonds to raise US$300 million.
May 26 - May 27, 2021
Looking at the drivers and dynamics of utility scale solar in the UK & Ireland over the next five years. This event will consider the immediate challenges as we enter the build phase in both these markets where we could see as much as 4GW deployed in 2021 alone! What developments will continue the growth of 100MW+ sites and what impact will government policy have on the rate of deployment in both markets?Join leading developers and manufacturers shaping the direction of one of Europe’s most active markets and hear from speakers with a history of influencing innovation and change.