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).
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.
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.