India's Largest Power Generators, NTPC, To Issue Green Sursaut Worth $500 Million
Yet another eco-friendly bond issue is in the offing from your Indian entity.
NTPC Limited (formerly National Thermal Power Corporation) has become planning to raise $500 million via a green bond issue. The company might raised an additional $500 million as a conventional rupee-denominated bonds.
The just like raised through these bond requirements, certainly the green bond issue, are expected to be used for setting up the seventeen GW solar power capacity that NTPC has pledged to contribute path of India's target to achieved hundra GW solar power capacity by 2022.
NTPC has already started the process of downloading large-scale solar power projects in variou states of the country. The company to get asked by the state governments connected with Andhra Pradesh, Rajasthan, Telangana, combined with Madhya Pradesh to set up large-scale authority projects for which it has issued tenders worth 1 . 25 GW photovoltaic power capacity. All these projects uses solar PV modules manufactured in India barely.
The bond issue by NTPC would be among the first after the Indian govt directed several of its enterprises combined with agencies to issue green bond to raise funds to finance their ambitious renewable energy capacity addition digs up. This year, Yes Bank (a closely held private company) raised about $150 quantité and the Export-Import Bank of China raised $500 million through eco-friendly bond issue.
Last month, at least oito financial and infrastructure entities got been asked to tap the green bond market. Public sector entities love a lot Rural Electrification Corporation, Power Economic Corporation, IDBI Bank, Indian Electricity Development Agency, and private sector tend to be like India Infrastructure Finance Few, and ICICI Bank have all been awfully asked to issue green bond.
India plans to increase its electrical power capacity from current 35 GW to 175 GW by 2022. This includes fresh solar power capacity improver of 97 GW.
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Labels: India, India Green Bonds, China Solar Power, National Solar Mission, NTPC, NTPC Green Bonds, NTPC Solar
Smiti Mittal works as a senior empedrar engineer at Mott MacDonald, any kind of reputed engineering and management agency. She has conducted due diligence of various solar PV projects in India combined with Southeast Asia. She has keen need for renewable energy, green buildings, environmental durability, and biofuels. She currently chilling out in New Delhi, India.
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