SAEL Group, an independent green power producer, announced on Friday the successful issuance of green bonds worth $305 million in international markets. The bonds attracted investors from the United States, Europe, and various Asian countries.
The issuance, which was conducted jointly with SAEL’s five wholly-owned subsidiaries, referred to as “The Restricted Group,” aims to raise approximately Rs 2,500 crore. The proceeds are earmarked for expanding the company’s renewable energy portfolio, which currently stands at around 4 GW. SAEL Group has set an ambitious target to increase its solar and waste-to-energy assets to 5 GW within the next two years.
Varun Gupta, the Chief Investment Officer of SAEL Group, expressed satisfaction with the overwhelming response to the bond issuance. “The record order book oversubscription for SAEL’s debut issuance by more than six times reaffirms the faith of investors in SAEL’s business model and the opportunities presented by the renewable energy industry,” he said.
SAEL Group’s commitment to green energy extends beyond power production; the company is also involved in solar module manufacturing. This latest financial move underscores the company’s strategy to strengthen its position in the renewable energy sector and contribute to sustainable energy solutions globally.
