ReNew Energy Global, an Indian renewable energy developer, announced that its wholly-owned subsidiary, India Clean Energy Holdings, raised $400 million by issuing senior secured dollar notes at a rate of 4.5 per cent. The dollar notes have been recognised as green bonds by the Climate Bonds Initiative. Also, the bonds will be listed on the Singapore Exchange. The tenor of the green bonds is 5.25 years.
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India’s leading renewable energy IPP, ReNew Power, has announced its committment to achieve net zero greenhouse gas emissions by 2050. The company’s latest announcement aligns with the ‘Race To Zero’ campaign which is a global alliance committed to achieving net zero carbon emissions through leadership and support from businesses, investors as well as cities and regions.
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ReNew Power has commissioned a 300 MW wind power plant in Gujarat, India. The project was previously awarded to ReNew’s operating subsidiary ReNew Wind Energy (AP2) Private Limited in a competitive e-reverse auction conducted by Solar Energy Corporation of India Limited. The project is located in Gujarat’s Kutch District and will provide clean energy to the Indian states of Haryana and Odisha at a tariff of Rs 2.44 per kWh.
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India’s ReNew Power has won the country’s first tender to provide continuous (24/7) green energy, bidding for an initial price of INR 2,900 per MWh. The Solar Energy Corporation of India (SECI), a central public sector undertaking, conducted e-reverse auction for the 400 MW renewable energy projects with round-the-clock supply.
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