MNRE to raise more than Rs 135 billion via green bonds in FY25

26 Jul 2024 CW Team

The Ministry of New & Renewable Energy (MNRE) intends to raise more than Rs 135 billion through green bonds for various renewable energy projects in the current financial year, ending March 2025. This effort is part of a broader initiative, with various ministries and departments planning to raise a total of Rs 320.6 billion via Sovereign Green Bonds (SGrBs). According to the union budget for FY25, MNRE aims to secure Rs 135 billion. The budget estimates are 80% higher than the previous year?s estimate of Rs 75.07 billion and more than double the revised estimate of Rs 61.16 billion from the last fiscal year.

Allocation Breakdown: - Solar Energy: Rs 100 billion - PM KUSUM (Rural Solar Scheme): Rs 19.96 billion - Wind Energy: Rs 9.30 billion - National Green Hydrogen Mission: Rs 6 billion

In FY23, the government raised Rs 160 billion through SGrBs, with actual expenditure under eligible schemes reaching Rs 169.23 billion. The excess Rs 9.23 billion was covered by general government revenues. For FY24, the government plans to raise Rs 200 billion through SGrBs, with any additional expenditure to be financed through general revenues.

Overall Fundraising Plans: - Railways: Rs 150 billion, primarily for energy-efficient electric locos (Rs 120 billion), Dum Dum Airport to New Garia via Rajarhat metro construction (Rs 17.91 billion), and Joka to Binoy Badal Dinesh Bagh via Majerhat metro construction (Rs 12.08 billion). - Ministry of Housing and Urban Affairs (MoHUA): Rs 33.64 billion for equity investments in metro projects. - Ministry of Environment, Forests, and Climate Change (MoEFCC): Rs 1.7 billion for the National Mission for a Green India. The actual amount to be raised through SGrBs in FY25 will be determined and notified separately. (Source: BusinessLine)

Infrastructure Urban

10 Apr 2026

HNGIL Appoints Bharathi Mangaiahgari as CHRO

India’s leading container glass manufacturer, Hindusthan National Glass & Industries (HNGIL), has appointed Bharathi Mangaiahgari as Chief Human Resources Officer.With nearly three decades of experience in human resources, Bharathi will work closely with the leadership team on the company’s people strategy and workforce planning. Her appointment comes as HNGIL sharpens its transformation agenda and operational priorities following a change in ownership last year.Her experience spans technology, manufacturing, renewables, infrastructure, biotech, pharmaceuticals and EPC. She has also wo..

Nexus Select Trust To Acquire Diamond Plaza Mall, Kolkata

Nexus Select Trust has agreed to acquire Diamond Plaza mall in Kolkata for Rs 3.475 billion (bn). The announcement was made on April nine, 2026 and identified the asset as a retail mall in the city of Kolkata. The purchase consideration was specified as Rs 3.475 bn, reflecting the conversion of the amount originally stated in crores. The transaction price was presented in the company statement without further financial breakdown. The mall will be added to the trust's portfolio of income producing retail assets and is expected to broaden its geographic footprint in eastern India. The announceme..

Madhya Pradesh Cabinet Approves 437 Acres for Ujjain Airstrip Expansion

The Madhya Pradesh cabinet has approved the acquisition of 437 acres of land to expand the airstrip at Ujjain. The decision, taken by the state executive, clears the way for a significant enlargement of the existing facility and its surrounding operational area. The approval marks a key administrative step towards upgrading aviation infrastructure in the region. The land will be formally earmarked for the project under the state acquisition plan. The expansion is intended to improve regional connectivity and to support increased civil aviation operations at the site. Officials have outlined pl..