CLP Issues Inaugural Green Bond to Fund Wind Projects in India

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
CLP Issues Inaugural Green Bond to Fund Wind Projects in India

CLP Holdings (CLP) has announced that it has issued its first green bond through its wholly-owned subsidiary CLP Wind Farms (India) to fund the development of wind projects in India, underpinning CLP's commitment to diversifying financing options and developing renewable projects in India, where it is the largest wind power developer.

In a continuous effort to tap new funding sources, CLP Wind Farms (India) has raised Rs.6 billion (about US$92 million) through the offering, making CLP the first company in the power sector of South Asia and Southeast Asia to issue a green bond. The latest offering comes after CLP became one of the first power sector companies in India to issue an asset-specific bond in April 2015.

Geert Peeters, Chief Financial Officer of CLP, said:

"We are encouraged by the success of the inaugural issuance of the green bond in a non-traditional market and the keen support from our banking partners. This gives us the confidence in pursuing similar financing initiatives for our future clean energy investments in line with the Group's contribution to the worldwide energy transition efforts."

CLP is the largest wind power developer in India with committed projects of more than 1,000MW. The proceeds from the offering will be used to fund its projects in the renewable space in India.

India Ratings and Research Private Limited has assigned a "AA" rating to the secured, unlisted and redeemable non-convertible bond, which has a coupon of 9.15% per annum. The bond will be issued in three series of equal amounts and will mature every April in 2018, 2019 and 2020. Standard Chartered Bank, IDFC Limited and The Hongkong and
Shanghai Banking Corporation Limited are the lead arrangers for the bond issuance.

List of country news

Country news

  • October 05, 2015

    SkyPower signs 150 MW PPA with Madhya Pradesh

    SkyPower has signed a long-term power purchase agreement (PPA) with the Government of Madhya Pradesh, India, to provide 150 MW of solar energy to the state. Read more
  • June 23, 2014

    6 bidders could exit mega power projects in Odisha and Tamil Nadu

    Six of the nine qualified firms could exit from the tender process for two 4000MW UMPPs (ultra mega power projects) in Odisha and Tamil Nadu unless the bid terms are reworked. Read more
  • June 24, 2014

    ACME Solar wins 30 MW solar PV project in India

    Acme Solar has emerged as the developer for the 30MW solar PV projects in a tender process floated by Chhattisgarh State Power Distribution Company Ltd (CSPDCL) at Raipur, India. Read more
  • June 27, 2014

    Karnataka seeks developers for solar power projects

    The Government of Karnataka (India) has announced plans to undertake the development of 500MW of solar thermal and/or solar PV power plants in the state. Read more
  • June 30, 2014

    ADB injects US$50 million in Welspun Renewables

    The Asian Development Bank (ADB) has invested US$50 million in India’s Welspun Renewables Energy Pvt. Ltd. (WREPL). Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.