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.