Latest news with #Rs20bn
Yahoo
20-05-2025
- Business
- Yahoo
Reliance Power enters long-term PPA with Green Digital in Bhutan
Indian power generation company Reliance Power has signed a commercial term sheet for a long-term power purchase agreement (PPA) with Green Digital, owned by Druk Holding and Investments (DHI), the investment arm of the Royal Government of Bhutan. The initiative marks a significant step in promoting regional clean energy integration and enhancing cross-border infrastructure collaboration in South Asia. Reliance Power and DHI will jointly develop Bhutan's largest solar power project through a 50:50 venture, offering installed capacity of 500MW. The project represents a capital investment of up to Rs20bn ($234bn) under a build-own-operate (BOO) model - the largest private sector foreign direct investment in Bhutan's solar energy sector. The agreement underscores Reliance Power's commitment to investing in long-duration clean energy assets and strengthens its strategic position in the regional power infrastructure landscape. Reliance Power has begun the engineering, procurement and construction (EPC) tendering process and is engaging with financial institutions to structure sustainable project finance solutions. Solar investment in Bhutan aligns with the Reliance Group's strategy to expand its renewable energy portfolio and re-inforces its commitment to India-Bhutan economic cooperation. Reliance Power's clean energy pipeline includes 2.5 gigawatts peak solar and more than 2.5 gigawatt hours of battery energy storage system (BESS), positioning it as India's largest player in the integrated solar plus BESS segment. The project will be implemented over the 24 months up to May 2027 in line with Bhutan's sustainability framework and the South Asian region's energy transition agenda. It is expected to significantly enhance Bhutan's solar generation capacity and diversify its renewable energy portfolio. In October 2024, Reliance Enterprises, a joint venture between Reliance Power and Reliance Infrastructure, formed a strategic partnership with DHI to develop solar and hydropower projects in Bhutan, including a 500MW solar project and the 770MW Chamkharchhu-I hydroelectric project. In January 2025, Reliance NU Suntech, a subsidiary of Reliance Power, announced plans to invest $1.16bn in establishing a solar power plant with a BESS in the state of Andhra Pradesh, India. The project will be Asia's largest, featuring a 930MW solar energy contract and a 465MW/1,860 megawatt hours BESS. "Reliance Power enters long-term PPA with Green Digital in Bhutan" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Recorder
08-05-2025
- Business
- Business Recorder
Green Sukuk makes debut with Rs20-30bn issue
ISLAMABAD: The government is proud to announce a major milestone in the nation's sustainable finance journey with the launch of its first Green Sukuk, said a press release. This pioneering financial instrument is set to revolutionize Pakistan's Sukuk market by channeling investments into environmentally sustainable projects while fostering economic growth. The Green Sukuk marks a pivotal step in aligning Pakistan's financial markets with global best practices in green financing. The inaugural issuance, ranging between PKR 20 billion and PKR 30 billion, will be conducted through an auction process, with the Pakistan Stock Exchange (PSX) playing a central role in listing and promoting this innovative instrument to investors. Rs20bn Green Sukuk likely in Dec The Green Sukuk Program has been structured with the support of the Joint Financial Advisors: Meezan Bank Limited, Bank Alfalah Limited, Dubai Islamic Bank Pakistan Limited, and Bank Islami Pakistan Limited. The Sustainable Investment Sukuk Framework, approved by the Cabinet, lays the foundation for the landmark debut of the Green Sukuk. This initiative is closely aligned with Pakistan's Vision 2028, particularly its goal of transitioning to an interest-free economy. It reflects the government's strong commitment to leveraging financial markets in support of sustainable development. The Green Sukuk is a beacon of innovation and a testament to our unwavering commitment to fostering sustainable development and reducing our environmental impact. The Green Sukuk offers investors a unique opportunity to support environmentally friendly projects while promoting economic growth. This is a historic step toward integrating sustainable finance into the core of Pakistan's development strategy. The Green Sukuk will attract a broader investor base, deepen our financial markets, and accelerate the country's transition to a green and resilient economy. Copyright Business Recorder, 2025
Zawya
29-04-2025
- Business
- Zawya
Tata Capital to tap September 2027 bonds: IFR
Tata Capital is planning to raise up to Rs25bn (US$294m) from a tap of its 8% September 10 2027 bonds, according to market sources. The non-banking financial company is eyeing Rs5bn plus a greenshoe of Rs20bn. Crisil and Care have assigned a AAA (stable) rating to the notes. ICICI Securities Dealership, Nuvama Wealth Management and Trust Investment Advisors are heard to be the arrangers. The issuer is seeking bids on the NSE's electronic bidding platform on April 30. Source: IFR
