The days of naming financing as one of the major hurdles for Indian solar appear to be coming to an end in 2017 as record low tariffs were enabled by a newly-attractive fiscal environment. PV Tech caught up with Kuljit Singh, partner, Transaction Advisory Services at EY, to discuss a potential spate of Indian solar IPOs, pension fund interest, Masala bonds and the future of the market.
The Indian Renewable Energy Development Agency (IREDA), a state-run financier, has launched its first Green (Masala) Bond on the London Stock Exchange (LSE), raising US$300 million (INR19.5 billion) in the process.
The Asian Development Bank (ADB) has raised US$1.25 billion to help finance climate change mitigation and adaptation projects by issuing dual-tranche five-year (US$750 million) and 10-year green bonds (US$500 million).
Azure Power Energy, a wholly owned subsidiary of Indian independent solar power producer Azure Power Global, will issue an inaugural US$500 million green bond offering, maturing in 2022.
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.
Technology conglomerate Apple Inc. has issued its second green bond valued at US$1 billion, in the wake of president Trump withdrawing the US from the Paris climate agreement.
French energy company ENGIE announced Wednesday that it has issued its second green bond, worth approximately US$1.6 billion. The company announced that it will use the bond to grow its development strategies in renewable energies and energy efficiencies.
The Inter-American Development Bank (IDB) has approved US$450 million of financing to initiate an Energy Efficiency Green Bond Facility in the Latin America region.
