CLP India Private’s wind energy arm, CLP Wind Farms (India) Private, has raised Rs 2.96 billion through green bonds.
CLP Group’s India subsidiary aims to use the proceeds to refinance loans used for projects in the field of renewable energy from the wind sources. Standard Chartered Bank and DBS Bank India are the arrangers for the bond issuance for a tenure of two to three years. India Ratings and Research Private had assigned a rating of AA to the bonds. The yearly-coupon bonds will be issued in two tranches – Rs 1.96 billion and Rs 1 billion. The CLP Group, through CLP India, is one of the largest foreign investors in India’s power sector. It has a diversified portfolio of 3,000 MW that includes thermal, wind and solar energy projects, and transmission assets.