Indian Renewable Energy Development Agency Bonds

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Indian renewable energy development agency bonds.

India s goal to dramatically ramp up solar and wind energy capacity could get a major boost through two fast growing financing innovations green banks and green bonds according to new analysis released by the indian renewable energy development agency in partnership with the natural resources defense council and the council on energy environment water. In 2018 state bank of india entered the green market with a 650 million certified climate bond. The green masala bond is a significant milestone for ireda in this regard as we embark on the next phase of renewable and sustainable energy led expansion. The indian renewable energy development agency ireda offers a credit enhancement guarantee scheme to support the issuance of bonds by wind and solar energy project developers.

A number of government agencies have contributed to this issuance including indian renewable energy development agency ireda and indian railway finance corporation irfc. The five year dated bond raised approximately usd 300 million rs 19 5 billion with a coupon of 7 125 per cent and became the first green masala. About indian renewable energy development agency ireda we are a 100 government of india goi owned enterprise under the administrative control of the ministry of new and renewable energy the mnre with more than 33 years of experience in the indian renewable energy sector. By providing unconditional and irrevocable partial credit guarantees ireda aims to enhance the credit rating of bonds for renewable energy projects thereby improving.

Indian renewable energy development agency ireda is fully committed to helping achieve indian government s vision of 175 gw renewable energy capacity by 2022. The indian renewable energy development agency today launched a new green masala bond on the london stock exchange s new international securities market to raise funds to finance renewable energy projects across india. Indian renewable energy development agency limited ireda is a mini ratna category i government of india enterprise under the administrative control of ministry of new and renewable energy mnre.