NTPC raises $750 million ECB term loan to fund capacity expansion
NTPC Limited has raised an unsecured $750 million external commercial borrowing (ECB) syndicated term loan facility to support its capex and capacity addition plans. The facility comprises a base issue of $500 million and a greenshoe option of $250 million, with a door-to-door tenor of 10 years and average maturity of seven years. Bank of Baroda acted as the mandated lead arranger and underwriter for the base tranche of $500 million, while HDFC Bank served as the mandated lead arranger and bookrunner for the greenshoe portion.
Avaana Capital draws first tranche of GCF’s $24.5 million commitment
Avaana Capital has announced the first drawdown of the Green Climate Fund’s (GCF) $24.5 million commitment to the Avaana Sustainability Fund. The investment is anchored by the Small Industries Development Bank of India, acting as the accredited entity under the guidance of the Department of Financial Services, Ministry of Finance (MoF). Avaana Capital invests in technology-led solutions across energy, sustainable supply chains, agriculture and advanced materials.
Central government approves Rs 54 billion VGF for 30 GWh BESS
The central government has approved a viability gap funding (VGF) scheme of Rs 54 billion to support the development of 30 GWh of battery energy storage systems (BESS). The initiative is expected to attract investments worth Rs 330 billion and help meet India’s energy storage requirements by 2028. This is in addition to 13.2 GWh of BESS already under implementation. To further strengthen transmission infrastructure, the government plans to roll out ultra high voltage AC transmission systems. Nine 1,100 kV lines have been identified for development by 2034, with testing facilities being developed by the Central Power Research Institute.
REC receives CBDT approval to issue zero coupon bonds worth Rs 50 billion
REC Limited has received approval from the Central Board of Direct Taxes (CBDT), MoF, for the issuance of zero coupon bonds worth Rs 50 billion. These bonds will have a tenure of 10 years and six months, and will be issued at a deep discount, redeemable at face value on maturity. The bond issuance is part of REC’s strategy to leverage innovative financial instruments for effective fundraising to support India’s expanding energy infrastructure requirements.
NTPC raises Rs 40 billion via debentures through private placement
NTPC Limited has raised Rs 40 billion through the private placement of unsecured, non-convertible debentures. The debentures will carry a coupon rate of 6.89 per cent per annum and have a tenor of 10 years and 1 day. This marks the third such issue under the approved framework. The funds raised will be used for purposes such as capex, refinancing of existing loans and other general corporate needs. The debentures are proposed to be listed on the National Stock Exchange.
IREDA raises Rs 20.06 billion through QIP
Indian Renewable Energy Development Agency Limited (IREDA) has raised Rs 20.06 billion through a qualified institutions placement (QIP). The capital was mobilised through the issuance of 121.5 million equity shares at a price of Rs 165.14 per share, including a premium of Rs 155.14 per share over the face value. The issue price reflected a 5 per cent discount to the floor price of Rs 173.83 per share. The QIP was oversubscribed, receiving bids worth Rs 20.06 billion against a base size of Rs 15 billion. The capital raised will enhance IREDA’s Tier I capital and capital adequacy ratio.
SAEL secures $132 million debt funding from AIIB, NDB and Société Générale for solar project in Andhra Pradesh
SAEL Solar MHP1, a wholly owned subsidiary of SAEL Industries Limited, has secured a total of $132 million in debt funding from the Asian Infrastructure Investment Bank (AIIB), the New Development Bank (NDB) and Société Générale for the development of a solar power project in Andhra Pradesh. Each institution has committed $44 million to support the execution and operationalisation of the project.
Vikram Solar gets SEBI approval for Rs 15 billion IPO
Vikram Solar Limited has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO) amounting to Rs 15 billion. The proposed IPO comprises a fresh issue of equity shares worth Rs 15 billion and an offer-for-sale of up to 17.45 million equity shares by the promoter and promoter group selling shareholders.
World Bank approves $2.13 billion green financing for Indonesia (Overseas)
The World Bank has approved a total of $2.13 billion in blended financing for Indonesia to support its push toward a low-carbon and climate-resilient economy. The financing package combines loans and guarantees aimed at accelerating clean energy adoption, reducing carbon emissions and enhancing infrastructure development. It includes funding for transmission infrastructure, renewable energy expansion, disaster preparedness and improved access to healthcare. The package aligns with the Indonesian government’s Just Energy Transition Partnership and its broader commitment to achieve net zero emissions by 2060.