Money & Banking

L&T Finance arm gets $100 mn green energy funding

PTI Mumbai | Updated on July 12, 2019 Published on July 12, 2019

The Beijing-headquartered multi- lateral developmental lender Asian Infrastructure Investment Bank (AIIB) Friday said it will provide USD 100 million in loans to L&T Infrastructure Finance Company for on-lending to wind and solar power infrastructure projects in the country.

This deal with the arm of L&T Finance Holdings marks the bank’s first loan to a non-banking finance company.

“Our latest project will increase the supply of renewable energy in India by mobilising private capital. The loan proceeds of USD 100 million will be used to on-lend to wind and solar power infrastructure projects in India,” AIIB said in a statement.

The loan mobilises private capital from sponsors, other financiers and LTIF’s own sources.

“Our financing will help secure the funding supply for renewable energy project development. The project supports our commitment to sustainable energy for Asia to reduce the carbon intensity of energy supply,” AIIB vice-president and chief investment officer DJ Pandian said.

LTIF’s collaboration with AIIB will also help the company develop its environmental and social capabilities which will in the future enable it to tap the international market for green finance, the bank said.

The country is committed to reducing its carbon intensity by 30-35 percent of the 2005 levels by 2030 under the Paris agreement.

Published on July 12, 2019

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.