NTPC to invest Rs 2000 cr proceeds of Masala Bonds for its 10,000 mw solar power plans

The company celebrated its recent Green Masala Bonds listing by opening trading at the London Stock Exchange (LSE) on Friday.

NTPC to invest Rs 2000 cr proceeds of Masala Bonds for its 10,000 mw solar power plans

Betting big on the renewable energy, India’s largest thermal power generation company, NTPC Ltd will invest Rs 2000 crore raised as Green Masala Bonds for generating 10,000 mw of solar power by 2022. This is to support India’s mega renewable energy plans to add 1,75,000 mw by 2022.

The company celebrated its recent Green Masala Bonds listing by opening trading at the London Stock Exchange (LSE) on Friday.

Masala Bonds are rupee-denominated Bonds issued to overseas buyers, with their green versions aimed at renewable energy projects in India. The company had raised $300 million (Rs 2,000 crores) with a 7.48 per cent annual yield with the new bond listing earlier this month.

“I am delighted to be opening trading on the LSE this morning to celebrate NTPC’s milestone bond listing. NTPC’s Green Masala Bonds offering with third party assurance and Climate Bonds Initiative certification, reflects our commitment to renewable energy in the times ahead,” Kulamani Biswal, director finance of NTPC was quoted by news agency PTI.

“We are keen to tap a new and international investor base for our renewable energy programme and access offshore financing without the associated exchange risks, which we can achieve through this issuance on the LSE,” he added.

“NTPC’s landmark independently certified Green Masala Bonds listing, the first Masala Bond by an Indian quasi-sovereign issuer, represents another historic event for Indian finance. We are honoured to have been chosen to support NTPC access rupee-based financing in London’s international capital markets, reinforcing India’s ambitions to generate 175 GW of renewable energy by 2022,” Nikhil Rathi, chief executive officer, LSE Plc was quoted by the agency.

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“This cements London’s position as the listing venue of choice for a variety of Asian issuers, from quasi-sovereign to supranational institutions, municipals and private companies. We are excited about continuing to build this market with Indian partners and authorities over the long-term, underlying the success of the India-UK Financial Partnership,” he added.

As many as 30 offshore Indian rupee bonds have listed in total on the LSE, raising equivalent to approximately $3.5 billion , according to one of the world’s leading stock exchanges.

3 Responses to "NTPC to invest Rs 2000 cr proceeds of Masala Bonds for its 10,000 mw solar power plans"

  1. Chaganti   September 11, 2016 at 5:05 pm

    No need for Nuclear, fossil fuel ,solar,wind,hydro,for power generation,I am a senior Scientist and I have answers for global warming. Please see my you tube videos and try to understand the concept of green power generation, every house village and city can forget pollution and usage of fossil fuel and nuclear.
    Put full stop to the hungry deaths and illiteracy. One stop to answer all questions by this innovation ” rotor electrical generation” . We are generating green electricity with out any raw material , to understand come and see and experiance then believe. Cost per MW is 150000 US$
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    Reply
    • Manish Parashar   October 4, 2016 at 5:12 pm

      Please comment on the recent power outage in South Australia, blamed in large part on the province’s dependence on RE.

      Reply
  2. Pingback: Innovations' Accelerator | On the web – Week 37

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