The refinancing, valued at approximately Rs 24 billion, is structured as an INR term loan subscribed solely by REC limited.
The projects, with a total capacity of 615 MW, are spread across Punjab, Maharashtra, Uttar PradeshAndhra Pradesh, Gujarat, Karnataka and Rajasthan.
The green bonds were issued in 2019 for $350 million and are listed in Singapore.
Azure Power Global Limiteda leading provider of sustainable energy solutions and renewable energy producer in India, has issued a notice to prepay green bonds maturing in December 2024.
“This refinancing reaffirms Azure Power’s strong market position and our ability to raise financing at attractive terms,” Sunil Gupta, CEO of Azure Power, said in the statement. “We continuously evaluate our portfolio to optimize financing for our projects. This project is a testament to that strategy,” said Sugata Sircar, Group Chief Financial Officer and Executive Director – Finance. REC Limited, a public sector undertaking, has fully subscribed for the refinancing.
This refinancing underscores Azure Power’s commitment to sustainable growth and reinforces its continued contribution to the Indian economy. renewable energy landscape.
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