Indian solar developer Azure Power Energy has issued a $500m green bond to refinance existing indebtedness related projects and for other general corporate expenses.
The bond will mature in 2022, the company said.
Azure Power founder, chairman and chief executive Inderpreet Wadhwa said: “The transaction is aimed at financing Azure Power’s existing and future eligible solar power projects which promote sustainability, while optimising financial costs and diversifying sources of funding.”
The bond has been certified by Climate Bonds Initiative, Azure said.
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