+
ReNew Power raises $585 mn through dollar green bonds
POWER & RENEWABLE ENERGY

ReNew Power raises $585 mn through dollar green bonds

Indian renewable energy firm ReNew Power has raised $585 million through its latest dollar bond offering.

The proceeds will be used by ReNew to refinance its debt of around 803 MW of operating wind and solar assets. The bonds have a tenor of 7.25 years and a fixed interest rate of 4.5% per annum. In principle approval has been obtained to list and trade the bonds on the India International Exchange (IFSC) Ltd (India INX).

Earlier, ReNew had raised around $325 million through overseas green bonds. The company offered its overseas green bonds at a 5.37% rate, with a maturity period of three and a half years. ReNew intends to utilise the proceeds to expand its capacity and to refinance high-cost local debt. It is expected to use around $225 million to repay its local debt.

In early 2020, it raised $450 million through a dollar bond issuance. The bonds were offered at a coupon rate of 5.87% with an average maturity of five and a half years. The company intended to utilise the proceeds worth nearly $65 million to meet its future capital expenditure requirements.

As we have reported earlier, in February this year, ReNew had signed an agreement for a business combination with RMG Acquisition Corporation II, a special purpose acquisition company (SPAC), resulting in the company becoming public.

Image Source


Also read: ReNew Power listed in WEF’s Global Lighthouse Network

Also read: ReNew Power eyes merger with SPACs for US listing

Indian renewable energy firm ReNew Power has raised $585 million through its latest dollar bond offering. The proceeds will be used by ReNew to refinance its debt of around 803 MW of operating wind and solar assets. The bonds have a tenor of 7.25 years and a fixed interest rate of 4.5% per annum. In principle approval has been obtained to list and trade the bonds on the India International Exchange (IFSC) Ltd (India INX). Earlier, ReNew had raised around $325 million through overseas green bonds. The company offered its overseas green bonds at a 5.37% rate, with a maturity period of three and a half years. ReNew intends to utilise the proceeds to expand its capacity and to refinance high-cost local debt. It is expected to use around $225 million to repay its local debt. In early 2020, it raised $450 million through a dollar bond issuance. The bonds were offered at a coupon rate of 5.87% with an average maturity of five and a half years. The company intended to utilise the proceeds worth nearly $65 million to meet its future capital expenditure requirements. As we have reported earlier, in February this year, ReNew had signed an agreement for a business combination with RMG Acquisition Corporation II, a special purpose acquisition company (SPAC), resulting in the company becoming public. Image Source Also read: ReNew Power listed in WEF’s Global Lighthouse Network Also read: ReNew Power eyes merger with SPACs for US listing

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code