RECPDCL Invites Bids for 223 MW ISTS-Connected Solar Projects

Clean Energy Tech Firm Ecozen Raises $30 Million for Global Expansion

SJVN Green Energy Invites Bids to Source Land for 200 MW Solar Projects in Assam

Avaada Inks ₹45 Billion Refinancing Deal for Four Solar Projects in Rajasthan

Daily News Wrap-Up: Application Process for ALMM Inclusion and Renewal

Australia Adds 5.9 GW of Renewable Capacity to the Grid in 2023

POWERGRID Wins Contracts to Evacuate 18 GW of Renewable Energy

MNRE Seeks Feedback on Guidelines for PM-Surya Ghar Rooftop Solar Program

Apple Partners with CleanMax to Power India Operations with Renewable Energy

Explainer: Application Process for ALMM Inclusion and Renewal

<p>The state-owned Rural Electrification Corporation of India has raised $450 million through the sale of green bonds on the London Stock Exchange (LSE).</p>
<p>The 10-year dated green bond raised $450 million, with an annual yield of 3.965 percent. The bond was 3.9 times oversubscribed on the final order book and secured strong international investor interest, with Asian investors making up 68 percent of the order book and investors from the EMEA region making up 32 percent, according to a <a href="http://www.mondovisione.com/media-and-resources/news/rural-electrification-corporation-of-india-launches-first-green-bond-in-london/" target="_blank" rel="noopener noreferrer">release</a>.</p>
<p>The green bond was the first of its kind to be traded on London Stock Exchange’s new International Securities Market (ISM). The fund raised will be utilized to develop solar, wind, and biomass projects, as well as sustainable water and waste management projects.</p>
<p>“The success of REC’s $450 million issuance is a significant achievement for REC, underlining the strength of international investor interest in building exposure to India’s green growth story,” stated Nikhil Rathi, CEO, London Stock Exchange plc and Director of International Development, London Stock Exchange Group.</p>
<p>“The funds raised will help promote renewable energy projects across India and aid in achieving our government’s target of 175GW of installed renewable energy capacity by 2022. Through this issuance on the London Stock Exchange, we will also be able to reach out to a new investor base,” stated Dr. P.V. Ramesh, Chairman and Managing Director of Rural Electrification Corporation Limited.</p>
<p>Mercom <a href="https://mercomindia.com/rural-electrification-corporation-powers-130-million-rural-households/" target="_blank" rel="noopener noreferrer">previously reported</a> that by March 21, 2017, the Rural Electrification Corporation had electrified 13,04,63,046 rural households and 12,673 unelectrified villages.</p>
<p>Image Credit: <span id="e79" class="yj-message-list-item--body-message yj-message" dir="ltr" lang="en">By TeshTesh, CC BY-SA 4.0, via Wikimedia Commons</span></p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
</div></div><div class="clearfix"></div></div></div>

Rural Electrification Corporation Raises $450 Million Through Green Bonds

emea

Get the most relevant India solar and clean energy news.

RECENT POSTS