Green Masala Bonds
Energy Efficiency Services Limited (EESL) plans to introduce US$100 million worth of Green Masala Bonds in November, following on the issue of Rs.500 Crore domestic bonds issued to fund its projects.
EESL said the access to Indian bond markets to channelize more investments in the energy efficiency market.
EESL’s capex requirement is Rs.3,500 crore for 2016-17. Aiding this requirement, these corporate bonds will be the first of many tranches.
The company has also tied up funding from multi-lateral agencies like KFW, AFD and ADB for funding its energy efficient projects.
Saurabh Kumar, Managing Director, EESL said, “Our requirements from the markets is quite high; however, we are confident of a great response from investors looking at our unique model.”
EESL, a JV of NTPC Limited, Power Grid Corporation of India Limited (PGCIL), Power Finance Corporation Limited (PFC Limited) and Rural Electrification Corporation (REC), under the administration of Ministry of Power.
It is working towards mainstreaming energy efficiency and is responsible for the world’s largest energy efficiency portfolio (worth US$13 billion over a period of 4 years).
EESL aims to unlock the energy efficiency (EE) and demand side management (DSM) market valued at Rs. 1.5 Lakh crore, and implement large-scale EE projects. fii-news.com