Azure Power, an Indian sustainable energy provider, plans to prepay $310 million in 2019 green bonds.

Azure Power, an Indian sustainable energy provider, plans to prepay $310 million in green bonds maturing in December 2024. These bonds, issued in 2019 for $350 million, are backed by seven utility projects. The refinancing, valued at approximately Rs 24 billion, is structured as an INR Term Loan and fully underwritten by REC Limited, a public sector entity. CEO Sunil Gupta emphasized this move demonstrates the company's strong market position and funding capabilities.

September 09, 2024
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