CLP to issue Rs 600 crore bonds for renewable projects

CLP India, the subsidiary of Hong Kong-based CLP Holdings, has issued bonds worth Rs 600 crore to meet capital requirements for its renewable projects.
"CLP India...Announced the issuance of Corporate Green Bonds for its wind portfolio-CLP Wind Farms," the company said in a statement today.
"CLP Wind Farms will raise Rs 600 crore through issue of rated, secured, unlisted, redeemable non-convertible debentures," it said.
CLP is the wind power developer in the country with committed wind projects of more than 1,000 MW, spread across six states.
"CLP Wind Farms is the first mover to issue Corporate Green Bonds in the Indian power sector. This move will help CLP sustain its expansion of the renewable energy portfolio in alignment with the company's vision to lower carbon emission footprint," the statement said.

"Through the issuance of these bonds we plan to fund the expenditure of new projects in the renewable energy space and thereby support CLP's growth plans for India. There is enormous potential in the Indian renewable power market and we see ourselves making a vital contribution towards the government's objective of increasing capacities in clean energy," CLP India Managing Director Rajiv Mishra said.
CLP India is the wholly-owned subsidiary of CLP Holdings Ltd, which is listed on the Hong Kong Stock Exchange and is one of the leading investor-owned power businesses in Asia.