Morgan Stanley-owned Indian commercial and industrial renewables developer Continuum Inexperienced Vitality Ltd had a serving to hand from the International Finance Corporation (IFC) because it launched its first green bond.
The IFC private-sector arm of multilateral improvement lender the World Bank invested in 10% of the over-subscribed monetary instrument as Continuum raised $561 million (INR4,080 crore) to refinance its money owed.
The developer, which offers photo voltaic and wind initiatives for industrial prospects in India, and has been managed by U.S. finance large Morgan Stanley since 2012, claims to have developed 2 GW of fresh energy era capability throughout India to this point.
In a press launch issued by the IFC in New Delhi at present, Isabel Chatterton – regional trade director for pure sources and infrastructure in Asia Pacific for the establishment – mentioned: “We’re excited to companion with Continuum for its first inexperienced bond. IFC’s funding will assist Continuum preserve sustainable energy era throughout India and place it to ship initiatives underneath improvement because the nation emerges from the pandemic. It can additionally assist assist India in its ambitions to cut back greenhouse gasoline emissions at a time when personal capital is most wanted to fund infrastructure initiatives and assist a inexperienced, resilient financial restoration.”
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