Tata Cleantech Capital issues Initial Green Bond worth Rs 180 Crores to FMO

Tata Cleantech Capital Limited has announced that it has raised Rs 180 crores through its initial green bond with tenure of 5 years from FMO, the Netherlands based Development bank. The bonds have been rated CRISIL AAA/ Stable and the proceeds of the bond will be exclusively applied to finance eligible Green Projects.

Speaking on the Green Bond Issue, Mr. Manish Chourasia, Managing Director, Tata Cleantech Capital Limited said, “TCCL is uniquely suited to capitalize on the opportunity the cleantech sector has to offer. The Green Bond market plays a key role in funding projects that contribute to environmental sustainability. TCCL’s maiden green bond issue will finance eligible Green Projects in the renewable energy space. We at TCCL are aligned with our investor FMO to create green infrastructure to drive sustainable economic growth and prosperity.”

TCCL currently has a strong renewable energy portfolio and thus the funds raised through Green bonds can be appropriately utilized to confirm with the Green Bond principles. TCCL’s expertise lies in intermediating fund flows from domestic and international capital markets to the cleantech sector in India, providing avenues for profitable growth, through underwriting, syndication and advisory services. 

Marnix Monsfort, Head of Financial Institutions Asia, FMO said, ´We at FMO are proud to have been chosen to partner TCCL’s debut green bond to invest in additional renewable energy development. TCCL combines the expertise one would expect from such esteemed group with the passion of a relatively small team in an almost start-up setting. We share TCCL’s clean energy vision to contribute to reduce global emissions and local air pollution.”