International Finance Corporation (IFC) is investing Rs 3,750 million (about $50 million) in a sustainability-linked bond (SLB) issued by Tata Cleantech Capital Limited.
This is the first such instrument issued by a private financial institution in India and will support the country’s shift to a clean energy economy. The SLB will help Tata Cleantech Capital strengthen its position as a leading green financier by taking on ambitious climate and sustainability targets. The company will work towards scaling up on-lending towards renewable energy projects and diversifying into energy efficiency and e-mobility sectors over the next three years.