Global Infrastructure SherpaReNew Energy raises $600M via senior secured green bond issuance
USD600M
Deal Value
ReNew Energy has successfully raised $600 million through the issuance of 6.5% senior secured green bonds due in 2031. The bonds were issued through ReNew’s GIFT City subsidiary, ReNew Treasury IFSC Private Limited. Linklaters advised ReNew Energy on the issuance, while Clifford Chance advised the joint global coordinators and joint bookrunners. The transaction attracted strong demand from institutional investors across Asia, the United Kingdom, and the United States.
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Counterparts (16)
Lender
Standard Chartered Bank
Standard Chartered is a global bank connecting corporate, institutional and affluent clients to a network that offers access to sustainable growth opportunities across Asia, Africa and the Middle East. They combine cross-border capabilities with wealth management expertise.
Barclays
Barclays is a diversified bank with a strategy to achieve net zero emissions by 2050. It focuses on financing clients' transition to sustainable practices and scaling climate technology.
Deutsche Bank
Deutsche Bank is a global financial institution that provides a range of financial services to corporations, institutions, and private clients. It focuses on sustainable and transition finance, aiming to support the low-carbon transition and ecosystem conservation.
SMBC
SMBC Group is committed to the growth of its clients, the development of its people, and the advancement of society. They aim to promote a better and safer world for all, supporting business development of clients around the world.
HSBC
HSBC is one of the world’s largest banking and financial services organisations. Their strategy supports their ambition to be the most trusted bank globally, putting customers at the heart of everything they do. They are focused on long-term, sustainable growth, focused on areas of their competitive strengths.
Credit Agricole CIB
Credit Agricole CIB acted as a lender in one verified deal: the $870.75M green bond financing for a solar project in the United Arab Emirates. This single deal highlights their activity as a lender in the renewable energy sector, specifically solar, within the UAE.
J.P Morgan
J.P. Morgan is a leading global financial services firm with assets of $3.9 trillion and operations worldwide. They provide a range of financial services including investment banking, commercial banking, financial transaction processing and asset management, serving millions of customers in the U.S. and corporate, institutional and government clients globally.
BNP Paribas
BNP Paribas is a global financial institution that provides financing and investment solutions across various sectors, including renewable energy. They support the development and deployment of renewable energy projects through project finance, advisory services, and capital markets solutions.
MUFG
Mitsubishi UFJ Financial Group (MUFG) is a global financial group. They provide financial services, including banking, trust banking, and securities, and are involved in sustainability initiatives, including financing for projects that contribute to a carbon-neutral society.
DBS Bank Ltd
DBS Bank is a leading financial services group headquartered in Singapore. It operates in 19 markets around the world and is focused on serving customers in Asia.
legal
Clifford Chance
Clifford Chance advised on one verified data center acquisition in Portugal, valued at €120M. Their legal counsel focused specifically on this technology within the Portuguese market.
Linklaters
Linklaters is a global law firm that advises corporations, banks, funds, and financial sponsors on complex legal matters. They provide expertise across various sectors including infrastructure, energy, and technology, offering services such as project finance, M&A, and dispute resolution.
borrower
ReNew Treasury IFSC Private Limited
ReNew Treasury IFSC Private Limited is part of ReNew Power, one of India's largest renewable energy companies. ReNew Power develops, builds, owns, and operates utility-scale wind, solar, and hydro energy projects.
ReNew Energy
ReNew Energy is a renewable energy company focused on developing and operating wind and solar energy projects.
Other
ReNew Energy
ReNew Energy is a renewable energy company focused on developing and operating wind and solar energy projects.
ReNew Private Limited
ReNew Private Limited is a renewable energy developer and operator focused on wind and solar energy projects in India. The company aims to reduce carbon footprint and promote sustainable energy solutions.
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Sign up free →Deal Analysis
ReNew Energy's successful issuance of $600 million in 6.5% senior secured green bonds due in 2031 represents a significant financing event for the company and underscores investor confidence in its renewable energy portfolio. The bonds, issued through ReNew's GIFT City subsidiary, attracted strong demand from institutional investors across Asia, the UK, and the US, demonstrating the global appeal of ReNew's green initiatives. The involvement of prominent legal advisors like Linklaters and Clifford Chance, along with a consortium of international banks including Barclays, BNP Paribas, Deutsche Bank, HSBC, MUFG, Standard Chartered Bank, Credit Agricole CIB, J.P Morgan, DBS Bank Ltd, and SMBC Nikko, further validates the deal's credibility and market significance.
This transaction highlights the increasing importance of green financing in the renewable energy sector, particularly in emerging markets like India. ReNew Energy's ability to secure such a substantial amount of capital through green bonds will likely support its expansion plans and contribute to the growth of renewable energy capacity in the region. The deal also demonstrates the attractiveness of GIFT City as a hub for international financial transactions, particularly those related to sustainable investments. The involvement of numerous global lenders signals a strong appetite for renewable energy projects in India and the broader Asia-Pacific region.
- Sizeable $600 million green bond issuance.
- Attracted strong demand from institutional investors across Asia, the UK, and the US.
- Involved a consortium of major international banks as lenders.
- Issued through ReNew's GIFT City subsidiary, highlighting the location's growing importance for international finance.
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