KPI Green Energy's Landmark Green Bond Listing Fuels India's Renewable Futures

KPI Green Energy, a Gujarat-based renewable energy company, has successfully listed its inaugural green bond valued at Rs 670 crore on the National Stock Exchange of India. This marks a crucial milestone for sustainable finance in India's renewable energy sector, according to a company statement.

The bond, with a five-year term, offers an annual coupon rate of 8.50%. It includes a quarterly amortization profile and benefits from a 65% partial guarantee provided by GuarantCo, a part of the Private Infrastructure Development Group, which receives funding from several governments including the UK, Switzerland, and Australia.

The proceeds from this bond will expand KPI Green Energy's solar, wind, and hybrid project portfolio across India, providing clean electricity to approximately 210,000 people annually and reducing over 344,000 tonnes of carbon emissions. This initiative not only furthers India's clean energy transition but also mobilizes significant domestic investment outside traditional banking channels.

(With inputs from agencies.)