Green Financing - newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra

REC Limited Wins Prestigious ET Infra Leadership Award for Landmark Green Financing Projects

Newsmantra — Tue, 02 Dec 2025 12:27:15 +0000

REC Limited, a prominent Non-Banking Financial Company (NBFC), has been honored with ‘The Economic Times Infra Leadership Awards 2025’ in recognition of its outstanding contributions to green financing initiatives. The company received accolades for its pivotal role in supporting the Mumbai Metro project and the 500 MW Solar Project in Anantapur. These projects have garnered praise for their large scale, significance at the national level, environmental benefits, and alignment with India’s climate commitments. The awards were accepted on behalf of REC by Mr. Kuldeep Rai, Executive Director, and Mr. Debasis Mitra, General Manager, during the second edition of The Economic Times Infra Leadership Summit and Awards.

These projects exemplify REC Limited’s leadership in promoting sustainable development and renewable energy in India. The Mumbai Metro project is recognized for setting a benchmark in low-carbon urban transportation and fostering sustainable city growth, while the Anantapur Solar Project marks a major milestone in renewable energy financing, vital for expanding India’s clean energy capacity. This recognition reaffirms REC’s commitment to India’s clean energy transition, low-carbon mobility, and infrastructure development. Through innovative financing solutions, REC continues to support projects of national importance, contributing significantly to India’s vision of ‘Viksit Bharat 2047’ and global sustainability goals.

The post REC Limited Wins Prestigious ET Infra Leadership Award for Landmark Green Financing Projects appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

State Bank of India and Agence Française de Développement (AFD) Sign EUR 100 Million Line of Credit to Boost Green Financing in India

Newsmantra — Tue, 02 Sep 2025 11:49:55 +0000

“This partnership with AFD reinforces SBI’s commitment to financing sustainable growth and achieving 7.5-10% green portfolio by 2030” – SBI Representative

Bengaluru, 01 September 2025– State Bank of India (SBI), the nation’s largest and most-trusted financial institution, has signed a Line of Credit agreement of EUR 100 million with Agence Française de Développement (AFD) at its GIFT City branch.

The funds mobilised through this partnership will be utilised in Climate Mitigation Actions aimed at reducing greenhouse gas emissions to slow down global warming and climate adaptation measures designed to adjust systems, practices, and infrastructure to minimize the damage caused by current or anticipated impacts of climate change. By empowering these measures, this collaboration strives to further advance India’s transition to a low-carbon economy while enhancing resilience to climate-related risks.

The partnership is a strategic step towards SBI’s goal of achieving a green portfolio constituting 7.5-10% of its domestic gross advances by 2030. Additionally, it will also enable the bank to provide competitive financing solutions that would further strengthen India’s green transition drive.

The collaboration allows SBI to leverage AFD’s expertise in climate finance and align with global sustainability frameworks. This includes support for innovative green technologies, project structuring, and ESG integration to ensure measurable environmental and social impact.

On this occasion, one of the SBI Senior Officials stated: “The Bank has been raising LoCs from MDBs and DFIs and deploying the funds to support specific green/sustainable activities. Through this collaboration with AFD, we are not only advancing our green finance roadmap but also enabling impactful climate solutions across India. This partnership reflects our unwavering commitment to sustainability and the vision of Viksit Bharat by 2047.”

The post State Bank of India and Agence Française de Développement (AFD) Sign EUR 100 Million Line of Credit to Boost Green Financing in India appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

IREDA Successfully Raises ₹2,005.90 Crore via QIP to Boost Green Financing

Newsmantra — Thu, 12 Jun 2025 06:24:39 +0000

Bengaluru, June 11, 2025 : Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP). The capital was mobilized by issuing 12.15 crore equity shares at a price of ₹165.14 per share, which includes a premium of ₹155.14 per share over the face value of ₹10.

The issue price of ₹165.14 reflects a discount of 5.00% to the floor price of ₹173.83 per equity share. Launched on June 5, 2025, the QIP issue closed on June 10, 2025, receiving an encouraging response from a diverse set of both domestic and foreign qualified institutional buyers (QIBs) including insurance companies, scheduled commercial banks and foreign portfolio investors. The Board has approved allotment of equity shares to eligible qualified institutional buyers in its meeting held today i.e. June 11, 2025.

The QIP was oversubscribed with bids amounting to ₹2,005.90 crore against the base issue size of ₹1,500 crore, achieving a subscription of 1.34 times. The capital raised through this successful issue will further strengthen IREDA’s Tier-I capital and overall Capital Adequacy Ratio (CAR), enhancing the company’s capacity to support the expanding renewable energy sector in India.

Reflecting on this achievement, Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, said: “The successful completion of this QIP in a short span after our IPO in November 2023 is a testament to the trust and confidence the investor community and the Ministry of New & Renewable Energy have reposed in IREDA. This capital infusion will empower us to scale up our financing activities, enabling greater investments in renewable energy projects and accelerating India’s transition towards a greener and sustainable energy future.”

CMD, IREDA expressed his gratitude to Shri Pralhad Joshi, Hon’ble Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shri Shripad Naik, Hon’ble Minister of State for Power and New & Renewable Energy; Shri Santosh Kumar Sarangi, Secretary, MNRE; Department of Investment and Public Asset Management (DIPAM); and the Board of Directors for their support and invaluable guidance.

IREDA extended its gratitude to all institutional investors and stakeholders for their continued support, reaffirming its commitment to leading the country’s clean energy financing initiatives.

The post IREDA Successfully Raises ₹2,005.90 Crore via QIP to Boost Green Financing appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.