The funds — raised from the issue of 10-year Green Infrastructure Bonds to the International Finance Corporation (IFC) — will be used to help the private bank meet its commitment of financing 5GW of renewables by 2020.
India has a renewables target of 175GW by 2022, with 100GW of solar.
“There are challenges in existing financing mechanisms, including sector limits, high interest rates and asset-liability mismatch.
