INSUBCONTINENT EXCLUSIVE:
MUMBAI: Tata Cleantech Capital (TCCL), a joint venture between Tata Capital and International Finance Corporation (IFC), Wednesday said it
has raised Rs 180 crore through its maiden five-year green bond from Netherlands-based development bank, FMO
The proceeds of bond will be used to finance eligible green projects, company said in a release
"The green bond market plays a key role in funding projects that contribute to environmental sustainability
Our maiden green bond issue will finance eligible green projects in renewable energy space," TCCL's managing director Manish Chourasia
The company has a strong renewable energy portfolio and thus funds raised through green bonds can be appropriately utilised to confirm with
green bond principles, it said
FMO is Dutch development bank and has been supporting sustainable private sector growth in developing countries and emerging markets
With a committed portfolio of USD 10.5 billion spanning over 92 countries, FMO is one of larger bilateral private sector developments banks
