Construction Infrastructure
Vector Green Energy to raise around $169 mn through green bonds
Vector Green Energy, a renewable energy-focused independent power producer (IPP) funded by Global Infrastructure Partners (GIP), will issue the first AAA-rated green bond in the local market.
The subsidiaries intend to raise $169 million and have received Climate Bond Standard certification for their bonds. The issue earned the highest rating by CRISIL and India Ratings. The term of the bond will be three years. ICICI Bank and Axis Bank are the underwriters of the contract.
Most foreign funds are focused on environmental, social and corporate governance (ESG) lending, and organizations engage themselves in sustainable projects. This has happened in part because India does not have proper green standards. If a bond or fund is certified ‘green’, it reduces the price by about half a percentage point.
The most comprehensive green loan to date came from Adani Green, which raised $1.3 billion in March. The Adani Group is looking to raise $12 billion in green funds over the next four-five years, with most of the $2-3 billion being allocated annually from overseas markets.
News Source: ConstructionWorld
Construction Infrastructure
The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra
Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises, has received LoA for a project involving six laning of Kagal-Satara section of NH-48 (old NH4) in Maharashtra. The project will be executed under the Bharatmala Pariyojana at ₹2,008.47 crores. The construction period for the 67-km long road project is expected to be 2 years from the date of appointment and the concession period will be 18 years.
With this project award, Adani’s road portfolio will have total 14 projects with more than 5,000 lane km with asset value exceeding ₹41,000 crore spread across India.
-
Bollywood2 months ago
Aishwarya Rai maintains her stunning appearance in a new L’Oreal ad.
-
health and remedies2 months ago
The article discusses the potential health risks associated with swallowing dry ice
-
Music1 month ago
Sidhu Moosewala’s father and baby brother feature on Times Square billboard; fans react. Watch
-
Bollywood3 weeks ago
Rasha, the daughter of Raveena Tandon, discusses how trolling affects her: “I think in processing it, feeling bad for a bit.”
-
Entertainment2 months ago
The Anant Ambani-Radhika Merchant pre-wedding bash in Jamnagar has received a list of guests.
-
Trending2 months ago
Dolly Chaiwala: “Didn’t Know Who He Was” in reference to giving Bill Gates tea
-
Bollywood4 weeks ago
The phrase “female-led projects” annoys Bhumi Pednekar. “It disgusts me deeply.”
-
Trending2 months ago
Oppo Reno 12 Pro Key Features Leak Online: Expected to Receive a 1.5K Display with a Density 9200+ SoC