India’s state owned energy major, NTPC, recently celebrated its Green Masala Bond listing at London Stock Exchange (LSE), raising $300 million – double the initial target set. ‘India Global Business’ caught up with Kulamani Biswal, finance director of the company, in London to explore what lies behind this first ever Indian quasi sovereign’s Masala Bond issuance, the proceeds from which will be invested in the renewable energy market in India.
What does this first Green Masala Bond at the London Stock Exchange mean for NTPC?
NTPC is the largest power generating company in India. We have 47,228GW installed capacity – 16 per cent of India’s total installed capacity – and we generate around 24-25 per cent of the total country’s generation. Moving forward we are going towards 10GW solar power by 2022 in furtherance of government of India’s programme to have 175GW by 2022.
This initiative to raise money from the global market in terms of rupee is aimed at our solar projects. NTPC is the first corporate to go for Green Masala Bond and it is the first PSU [public sector unit] to raise money through this instrument. Login/Sign up to read more