Avaada Energy raises Rs 14.4 billion through green bonds

Avaada Energy has announced that it will raise Rs 14.4 billion in green bonds in the Indian capital market at a rate of 6.75 per cent, making it the country’s largest AAA-rated green bond by any renewable energy developer. The bonds are certified by the Climate Bonds Standard Board of the Climate Bonds Initiative, and comply with the Securities and Exch­ange Board of India (SEBI) criteria for green debt securities. The bonds will be listed on the Bombay Stock Exchange (BSE) and will have a three-year maturity period. The issue’s arrangers are Axis Bank and ICICI Bank. The green bond issue drew considerable interest and participation of many banks and financial institutions.

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