India Inc raises a record green capital of $19 billion in 2021
- IBEF
- April 6, 2022
In 2021, India Inc. raised a record US$ 19 billion in green capital, driven by Wall Street behemoth Bank of America. While corporate India raised US$ 19 billion in green capital in 2021, Bank of America assisted in US$ 15.65 billion. The largest domestic issuer was ReNew Power, which raised US$ 8 billion in February 2021 followed by SoftBank sold SB Energy's Renewable Power Portfolio to Adani Green Energy for US$ 3 billion in May, TPG Rise Climate Fund's US$ 1 billion investment in Tata Motors' passenger electric vehicle business in October, and Greenko Power raising US$ 1 billion via Reg S bond sale in December.
Pipe RMG Acquisition Corporation's US$ 855 million Spac deal in August, UPL's US$ 750 million sustainability linked loan in March, Axis Bank's US$ 600 million Reg S perpetual bond sale in September, and Global Power Synergy's US$ 450 million investment in Avaada Energy in July, according to a statement released by BofA Securities.
As part of its US$ 1.5 trillion sustainable financing aim by 2030, the bank said it is speeding up capital mobilisation and deployment plans.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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