India’s goal to boost energy from renewable sources fuels green bond sales overseas

By: |
September 27, 2019 5:27 PM

India’s goal to more than double energy generation from renewable sources is fueling bets that debt offerings from green companies may grow.

Issuing green bonds overseas can help realise the goal of creating a clean environmentAdani Green Energy Ltd. kicked off a roadshow for a potential dollar bond as Prime Minister Narendra Modi announced the more ambitious plans.

India’s goal to more than double energy generation from renewable sources is fueling bets that debt offerings from green companies may grow. Adani Green Energy Ltd. kicked off a roadshow for a potential dollar bond as Prime Minister Narendra Modi announced the more ambitious plans. Indian alternative-energy firms have sold about $3.4 billion of foreign-currency notes in 2019, after none last year, according to data compiled by Bloomberg.

There is a dearth of Indian dollar green bonds and demand is rising for such notes, said A.S. Thiyaga Rajan, a senior managing director in Singapore at Aquarius Investment Advisors Pte.

Green issuers are supported by rising global appetite for Indian notes, which offer attractive yield. Foreign-currency note sales from the nation’s borrowers rose to a record $18.5 billion so far this year, and renewable companies Greenko Energy Holdings and ReNew Power Ltd. have already tapped the market more than once.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Cotton exports likely to jump 40% in 2020-21
2Analyst Corner: Indigo exits Nov at closer to 65% of pre-Covid levels
3Analyst Corner: Retain ‘buy’ on NMDC with a target price of Rs 129