Singapore-based developer Sindicatum Sustainable Resources has become the first Asian renewables company to issue a green bond, in a move aimed at funding clean energy projects in India.
The green bond is worth 2.5bn Indian rupees ($40m) over two periods—one for five years, a second for seven years. The capital raised will go towards building utility-scale solar projects in India and refinance existing indebtedness , the company said in a statement.
