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Independent power producer, CLP Wind Farms, has raised Rs 600 crore through a ‘green bond’ issue. This is the first time a developer is raising funds through an issue of green bonds. Because of the ‘green’ nature of the deployment of the funds – into wind power projects – CLP India has been able to raise the funds at a coupon rate of 9.15 per cent.
The bonds have been issued in three series of equal amounts, and will mature every April in 2018, 2019 and 2020, says a press release from CLP India.
Samir Ashta, Director-Finance and Chief Financial Officer, CLP India, told BusinessLine today that by pooling all the 800-odd MW of wind assets, the company was able to secure a better credit rating -- a 'AA' from India Ratings and Research Pvt Ltd.
CLP Wind Farms is one of the larger wind power producers in India, with committed projects worth 1,000 MW. CLP India also runs a 1,320 MW coal-fired power project in Haryana.
Ashta said CLP India as yet did not have 'solar' assets, but the company was examining the option of an entry into the solar space.
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