Avaada Energy raises green bonds for Rs 1440 crore

08 Mar 2022 CW Team

Avaada Energy, a solar project developer, announced on Tuesday that it is raising Rs 1440 crore through green bonds in the Indian capital market at a rate of 6.75%, making it the country's largest such issue by a renewable energy developer.

According to the statement, the bonds are certified by the Climate Bonds Standard Board of the Climate Bonds Initiatives and comply with the Securities and Exchange Board of India (SEBI) guidelines for Green Debt Securities.

The bonds will be listed on the Bombay Stock Exchange (BSE) and will have a three-year maturity.

CRISIL ratings gave the issuance the highest possible score. The issue was organised by Axis Bank and ICICI Bank.

In the last few years, Environmental, Social, and Governance (ESG) financing has advanced significantly. In the domestic market, the response to bond issuance has been very positive.

According to Vineet Mittal, Chair of the Avaada Group, it will assist developers in raising capital domestically while avoiding foreign exchange currency risk and lowering fundraising costs.

PTT Group, Thailand's largest oil and gas company, has backed Avaada Energy.

Image Source

Also read: India Clean Energy Holdings raises $400 mn at 4.5% via green bonds

Infrastructure Transport

17 Oct 2025

Sonowal Unveils Eight Projects at NMPA’s Golden Jubilee

Union Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal, inaugurated the Curtain Raiser Ceremony of the Golden Jubilee Celebrations of the New Mangalore Port Authority (NMPA) at Bharat Mandapam. To commemorate the milestone, he unveiled eight major maritime infrastructure projects designed to strengthen India’s port network, enhance logistics performance, and promote sustainability. These include a modern cruise terminal, new covered storage facilities, a 150-bed multi-speciality hospital, expanded truck terminals, and improved port access infrastructure aimed at enhancing..

India To Boost US LPG Imports, Cut Middle East Reliance

India is planning to reduce imports of liquefied petroleum gas (LPG) from the Middle East as state-owned refiners prepare to ramp up purchases from the United States, according to sources familiar with the matter. The move aligns with New Delhi’s efforts to expand energy cooperation and secure a broader trade deal with Washington. State refiners have already notified their traditional LPG suppliers in Saudi Arabia, the United Arab Emirates, Kuwait and Qatar of the potential reduction in imports. Although the exact size of the supply cut was not disclosed, earlier reports suggested that Indi..

UK Sanctions Nayara Energy in Crackdown on Russian Oil

The United Kingdom has announced fresh sanctions on 90 entities, including Indian refiner Nayara Energy Limited, in its latest bid to curb Russian oil revenues and weaken President Vladimir Putin’s war funding. The sanctions, unveiled jointly by the Foreign, Commonwealth and Development Office (FCDO) and the UK Treasury, aim to disrupt networks supporting Moscow’s crude exports amid the ongoing war in Ukraine. According to the FCDO, the new restrictions are intended to “strike at the heart of Putin’s war funding” by targeting firms and assets that enable Russia’s energy trade. “..