27 Nov '15, 1pm

India’s IDBI Bank raises US$350 million through Green Bond issue https://t.co/64Bf2k7upK

IDBI is the first state-owned lender to issue green bonds. Flickr: Sanyam Bagha Indian state-owned bank IDBI has raised US$350 million through the issue of green bonds, which also received orders of around US$1 billion. The bank has taken up prime minister Narendra Modi’s programme to grow clean energy and green infrastructure in India. The country is planning to reach 175GW of installed renewable energy by 2022. The Export-Import Bank of India issued a US$500 million green bond in March, meanwhile India-based Yes Bank and Hong Kong-listed utility CLP Group recently became the second lender to raise financing through green bonds to the sum of US$49 million . The Climate Bonds Initiative (CBI), a not-for-profit looking to mobilise global investment in renewables, said that a record US$38.4 billion of green bonds have been issued globally so far this year. Sean Kidney, chief...

Full article: http://www.pv-tech.org/news/indias-idbi-bank-raises-us350...

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