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.”
The bonds issued in 2017 share the same pre issuance verification report. It was split into a INR 7 billion (USD 107m) domestic issuance in March 2017, and a INR 19.5 bn (USD 300m) masala issuance in September 2017.
Secured bonds to be used for financing a number of renewable projects across India (mostly solar) with a total capacity of 831 MW.
DATE OF ISSUE | TYPE OF INSTRUMENT | SIZE | TENOR | COUNTRY OF ISSUE | CLIMATE BONDS SECTOR CRITERIA | VERIFIER'S REPORT | ANNUAL REPORT | FURTHER INFORMATION |
March 2017 |
Use of proceeds bond domestic issuance |
INR 7bn (USD 107m) | 5 years | India | Wind, Solar |
EVI post issuance report for 7bn INR bond
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September 2017 |
Use of proceeds bond masala issuance |
INR 19.5bn (USD 300m) | 10 years | India | Wind, Solar | IREDA Annual Reports webpage | ||
January 2019 | Use of proceeds bond | INR 2.75 billion (USD 39m) | 10 years | India | Wind, Solar | post issuance report by KPMG (post only) | ||
January 2019 | Use of proceeds bond | INR 5.9 billion (USD 83.8m) | 10 years | India | Wind, Solar | post issuance report by KPMG (post only) |