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Daily Archives: July 10, 2017

Greenko Energy to raise up to $1 billion via dollar bonds

According to reports, Greenko Energy Holdings, which acquired SunEdison’s India assets last year, is looking to raise up to $1 billion via overseas dollar bonds to refinance the entire debt of the acquisition as well as its existing debt of $500 million. Mint was the first to report on Greenko’s fund raising plans through dollar bonds in November last year. According to bankers directly involved in the transaction, who did not want to be named, Greenko’s green bonds will have a ... Read More »

GE arm in talks to invest in Avaada Power’s renewable energy projects

According to reports, GE Energy Financial Services (GEEFS) is expanding its Indian renewable energy portfolio and is in talks with Avaada Power to invest in the renewable energy projects of the Vineet Mittal-promoted firm, two people aware of the development said. Avaada Power is Mittal’s second innings in India’s clean energy space after Tata Power Co. Ltd bought the entire 1.1 GW renewable energy portfolio of Welspun Energy Ltd for $1.4 billion last year. “GE Energy Financial Services is in ... Read More »

India’s Rural Electrification Corporation lists Green Bond in UK

According to reports, India’s Rural Electrification Corporation (REC) today launched its first Green Bond on the London Stock Exchange and raised USD 450 million to finance renewable energy projects in India. The 10-year dated Green Bond raised USD 450 million, with an annual yield of 3.965 per cent on the London Stock Exchange’s (LSE) new International Securities Market (ISM). It was 3.9 times oversubscribed on the final order book and secured strong international investor interest, with Asian investors making up 68 per cent ... Read More »

Andhra Pradesh mulls floating solar power plant at Mudasarlova

According to reports, the Greater Visakhapatnam Municipal Corporation (GVMC) has planned to set up India’s largest floating solar power plant at Mudasarlova reservoir as part of the Smart City project. The project will have a power generation capacity of 2,000 kilowatt peak (KWp), nearly 20 times the capacity of the recently-launched floating solar power plant in Kayamkulam, Kerala. Besides being environment-friendly, the project reduces demand for land and makes use of the unutilised surface area of the reservoir. The solar panels will also help in reducing ... Read More »

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