Indian Renewable Energy Development Agency (IREDA) is a state owned company, which was established in 1987 and is currently under the Ministry of New and Renewable Energy.
Mr. Kuljit Singh Popli, Chairman and Managing Director of Indian Renewable Energy Development Agency (IREDA), said:
“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 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. This is another step towards our Honourable Prime Minister’s commitment to the Paris agreement on Climate Change. The overwhelming response to the issue is a testament to the confidence of global investors in IREDA and the Indian renewable sector in general.”
Whilst this was Certified as one bond initially, IREDA decided to split the issuance into two bonds, but sharing the same Certified pool of eligible assets. Ultimately, the two bonds were issued in March and September 2017.
|DATE OF ISSUE||ANNUAL REPORT||FURTHER INFORMATION|
|March, September 2017||Use of proceeds bond||INR 7bn, INR 19.5bn (USD 406m)||5 years||India||Wind, Solar||Annual Report September 2019||Secured bonds to be used for financing a number of renewable projects across India (mostly solar) with a total capacity of 831 MW.|